LD 1566, Page 2 - 122th Legislature, FIRST SPECIAL Session

Power of Attorney. This Durable Power of Attorney is valid only if

the Principal is of sound mind when the Principal signs it. As the

Agent, you are under a duty (called a "fiduciary duty") to observe

the standards observed by a prudent person dealing with the

property of another. The duty is explained more fully in the Maine

Revised Statutes, Title 18-A, sections 5-501 to 5-508 and Title 18-

B, sections 802 to 807 and chapter 9 and in Maine case law. As the

Agent, you are not entitled to use the money or property for your

own benefit or to make gifts to yourself or others unless the

Durable Power of Attorney specifically gives you the authority to

do so. As the Agent, your authority under this Durable Power of

Attorney will end when the Principal dies and you will not have the

authority to administer the estate unless you are authorized to do

so in accordance with the Probate Code. If you violate your

fiduciary duty under this Durable Power of Attorney, you may be

liable for damages and may be subject to criminal prosecution. If

there is anything about this Durable Power of Attorney or your

duties under it that you do not understand, you should ask a lawyer

to explain it to you."

This language does not confer powers not otherwise contained in
the durable financial power of attorney.

This subsection does not apply to a durable financial power of
attorney granted by a person for the limited purpose of
representation of that person in a set of transactions involving
the sale, purchase or mortgage of specifically identified real
property.

Sec. 4. 18-A MRSA зз5-510 and 5-511 are enacted to read:

з5-510.__Recognition of powers of attorney from other

jurisdictions

Notwithstanding any contrary requirements of law, a durable or
nondurable health care power of attorney or a durable or
nondurable financial power of attorney that was duly executed in
another jurisdiction within the United States in compliance with
the laws of that jurisdiction is not ineffective in this State
due to noncompliance with the laws of this State.

з5-511.__Reliance on power of attorney

A person who acts in good faith reliance on a copy of a
document purporting to establish an agency is fully protected and
released to the same extent as though the person relying on the
document had dealt directly with the named principal as a fully
competent person.__A person dealing with an agent named in a copy
of a document purporting to establish an agency may presume, in
the absence of actual knowledge to the contrary, that the

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