H.F. _____ Section 1. Section 144A.7, subsection 1, paragraph a, Code 1 2014, is amended to read as follows: 2 a. The attorney in fact designated to make treatment 3 decisions for the patient should such person be diagnosed as 4 suffering from a terminal condition, if the designation is in 5 writing and complies with chapter 144B or section 633B.1 . 6 Sec. 2. Section 231E.3, subsection 15, Code 2014, is amended 7 to read as follows: 8 15. “Power of attorney” means a durable power of attorney 9 for health care as defined in section 144B.1 or a power of 10 attorney that becomes effective upon the disability of the 11 principal as described in section 633B.1 executed pursuant to 12 chapter 633B . 13 Sec. 3. NEW SECTION . 633B.101 Title. 14 This chapter shall be known and may be cited as the “Iowa 15 Uniform Power of Attorney Act” . 16 Sec. 4. NEW SECTION . 633B.102 Definitions. 17 1. “Agent” means a person granted authority to act for a 18 principal under a power of attorney, whether denominated an 19 agent, attorney in fact, or otherwise. The term includes an 20 original agent, coagent, successor agent, and a person to which 21 an agent’s authority is delegated. 22 2. “Conservator” or “conservatorship” means a conservator 23 appointed or conservatorship established pursuant to sections 24 633.570 and 633.572 or a similar provision of the laws of 25 another state. 26 3. “Durable” , with respect to a power of attorney, means not 27 terminated by the principal’s incapacity. 28 4. “Electronic” means relating to technology having 29 electrical, digital, magnetic, wireless, optical, 30 electromagnetic, or similar capabilities. 31 5. “Good faith” means honesty in fact. 32 6. “Guardian” or “guardianship” means a guardian appointed 33 or a guardianship established pursuant to sections 633.556 and 34 633.560 or a similar provision of the laws of another state. 35 -1- LSB 5082YC (4) 85 rh/rj 1/ 49

H.F. _____ 7. “Incapacity” means the inability of an individual to 1 manage property or business affairs because the individual is 2 any of the following: 3 a. An individual whose decision-making capacity is so 4 impaired that the individual is unable to make, communicate, 5 or carry out important decisions concerning the individual’s 6 financial affairs. 7 b. Detained or incarcerated in a penal system. 8 c. Outside the United States and unable to return. 9 8. “Person” means an individual, corporation, business 10 trust, estate, trust, partnership, limited liability company, 11 association, joint venture, public corporation, government or 12 governmental subdivision, agency, or instrumentality, or any 13 other legal or commercial entity. 14 9. “Power of attorney” means a writing that grants authority 15 to an agent to act in the place of the principal, whether or not 16 the term “power of attorney” is used. 17 10. “Presently exercisable general power of appointment” , 18 with respect to property or a property interest subject to 19 a power of appointment, means power exercisable at the time 20 in question to vest absolute ownership in the principal 21 individually, the principal’s estate, the principal’s 22 creditors, or the creditors of the principal’s estate. The 23 term includes a power of appointment not exercisable until 24 the occurrence of a specified event, the satisfaction of an 25 ascertainable standard, or the passage of a specified period 26 of time only after the occurrence of the specified event, the 27 satisfaction of the ascertainable standard, or the passage of 28 the specified period of time. The term does not include a 29 power exercisable in a fiduciary capacity or only by will. 30 11. “Principal” means an individual who grants authority to 31 an agent in a power of attorney. 32 12. “Property” means anything that may be the subject of 33 ownership, whether real or personal, or legal or equitable, or 34 any interest or right therein. 35 -2- LSB 5082YC (4) 85 rh/rj 2/ 49

H.F. _____ 13. “Record” means information that is inscribed on a 1 tangible medium or that is stored in an electronic or other 2 medium and is retrievable in perceivable form. 3 14. “Sign” means, with present intent to authenticate or 4 adopt a record, to do any of the following: 5 a. Execute or adopt a tangible symbol. 6 b. Attach to or logically associate with the record an 7 electronic sound, symbol, or process. 8 15. “State” means a state of the United States, the District 9 of Columbia, Puerto Rico, the United States Virgin Islands, or 10 any territory or insular possession subject to the jurisdiction 11 of the United States. 12 16. “Stocks and bonds” means stocks, bonds, mutual funds, 13 and all other types of securities and financial instruments, 14 whether held directly, indirectly, or in any other manner. The 15 term does not include commodity futures contracts and call or 16 put options on stocks or stock indexes. 17 Sec. 5. NEW SECTION . 633B.103 Applicability. 18 This chapter applies to all powers of attorney except for the 19 following: 20 1. A power to the extent it is coupled with an interest 21 of the agent in the subject of the power, including but not 22 limited to a power given to or for the benefit of a creditor in 23 connection with a credit transaction. 24 2. A power to make health care decisions. 25 3. A proxy or other delegation to exercise voting rights or 26 management rights with respect to an entity. 27 4. A power created on a form prescribed by a government 28 or governmental subdivision, agency, or instrumentality for a 29 governmental purpose. 30 Sec. 6. NEW SECTION . 633B.104 Durability of power of 31 attorney. 32 A power of attorney created under this chapter is durable 33 unless the power of attorney expressly provides that it is 34 terminated by the incapacity of the principal. 35 -3- LSB 5082YC (4) 85 rh/rj 3/ 49

H.F. _____ Sec. 7. NEW SECTION . 633B.105 Execution. 1 A power of attorney must be signed by the principal or in 2 the principal’s conscious presence by another individual, other 3 than any prospective agent, directed by the principal to sign 4 the principal’s name on the power of attorney. A power of 5 attorney must be acknowledged before a notary public or other 6 individual authorized by law to take acknowledgments. An 7 agent named in the power of attorney shall not notarize the 8 principal’s signature. An acknowledged signature on a power of 9 attorney is presumed to be genuine. 10 Sec. 8. NEW SECTION . 633B.106 Validity. 11 1. A power of attorney executed in this state on or 12 after July 1, 2014, is valid if the execution of the power of 13 attorney complies with section 633B.105. 14 2. A power of attorney executed in this state before July 15 1, 2014, is valid if the execution of the power of attorney 16 complied with the law of this state as it existed at the time 17 of execution. 18 3. A power of attorney executed other than in this state 19 is valid in this state if, when the power of attorney was 20 executed, the execution complied with any of the following: 21 a. The law of the jurisdiction that determines the meaning 22 and effect of the power of attorney pursuant to section 23 633B.107. 24 b. The requirements for a military power of attorney 25 pursuant to 10 U.S.C. §1044b, as amended. 26 4. Except as otherwise provided by law, a photocopy or 27 electronically transmitted copy of an original power of 28 attorney has the same effect as the original. 29 Sec. 9. NEW SECTION . 633B.107 Meaning and effect. 30 The meaning and effect of a power of attorney is determined 31 by the law of the jurisdiction indicated in the power of 32 attorney and, in the absence of an indication of jurisdiction, 33 by the law of the jurisdiction in which the power of attorney 34 was executed. 35 -4- LSB 5082YC (4) 85 rh/rj 4/ 49

H.F. _____ Sec. 10. NEW SECTION . 633B.108 Nomination of conservator or 1 guardian —— relation of agent to court-appointed fiduciary. 2 1. Under a power of attorney, a principal may nominate 3 a conservator of the principal’s estate or guardian of 4 the principal’s person for consideration by the court if 5 proceedings for the principal’s estate or person are begun 6 after the principal executes the power of attorney. Except 7 for good cause shown or disqualification, the court shall make 8 its appointment in accordance with the principal's most recent 9 nomination. This section does not prohibit an individual 10 from executing a petition for the voluntary appointment of a 11 guardian or conservator on a standby basis pursuant to sections 12 633.560 and 633.591. 13 2. If, after a principal executes a power of attorney, 14 a court appoints a conservator of the principal’s estate or 15 other fiduciary charged with the management of some or all of 16 the principal’s property, the power of attorney is suspended 17 unless the power of attorney provides otherwise or unless the 18 court appointing the conservator decides the power of attorney 19 should continue. If the power of attorney continues, the agent 20 is accountable to the fiduciary as well as to the principal. 21 The power of attorney shall be reinstated upon termination of 22 the conservatorship as a result of the principal regaining 23 capacity. 24 Sec. 11. NEW SECTION . 633B.109 When power of attorney 25 effective. 26 1. A power of attorney is effective when executed unless 27 the principal provides in the power of attorney that it becomes 28 effective at a future date or upon the occurrence of a future 29 event or contingency. 30 2. If a power of attorney becomes effective upon the 31 occurrence of a future event or contingency, the principal, 32 in the power of attorney, may authorize one or more persons 33 to determine in a writing that the event or contingency has 34 occurred. 35 -5- LSB 5082YC (4) 85 rh/rj 5/ 49

H.F. _____ 3. If a power of attorney becomes effective upon the 1 principal’s incapacity and the principal has not authorized 2 a person to determine whether the principal is incapacitated 3 or the person authorized is unable or unwilling to make the 4 determination, the power of attorney becomes effective upon 5 a determination in a writing by the occurrence of any of the 6 following: 7 a. A licensed physician or licensed psychologist determines 8 that the principal is incapacitated. 9 b. A judge, or an appropriate governmental official 10 determines that the principal is incapacitated. 11 4. A person authorized by the principal in the power of 12 attorney to determine that the principal is incapacitated may 13 act as the principal’s personal representative pursuant to the 14 federal Health Insurance Portability and Accountability Act of 15 1996, Pub. L. No. 104-191, including amendments thereto and 16 regulations promulgated thereunder, to obtain access to the 17 principal’s health care information and to communicate with the 18 principal’s health care provider. 19 Sec. 12. NEW SECTION . 633B.110 Termination —— power of 20 attorney or agent authority. 21 1. A power of attorney terminates when any of the following 22 occur: 23 a. The principal dies. 24 b. The principal becomes incapacitated, if the power of 25 attorney is not durable. 26 c. The principal revokes the power of attorney. 27 d. The power of attorney provides that it terminates. 28 e. The purpose of the power of attorney is accomplished. 29 f. The principal revokes the agent’s authority or the agent 30 dies, becomes incapacitated, or resigns, and the power of 31 attorney does not provide for another agent to act under the 32 power of attorney. 33 2. An agent’s authority terminates when any of the following 34 occur: 35 -6- LSB 5082YC (4) 85 rh/rj 6/ 49

H.F. _____ a. The principal revokes the authority. 1 b. The agent dies, becomes incapacitated, or resigns. 2 c. An action is filed for the dissolution or annulment 3 of the agent’s marriage to the principal or for their legal 4 separation, unless the power of attorney otherwise provides. 5 d. The power of attorney terminates. 6 3. Unless the power of attorney otherwise provides, an 7 agent’s authority is exercisable until the agent’s authority 8 terminates under subsection 2, notwithstanding a lapse of time 9 since the execution of the power of attorney. 10 4. Termination of a power of attorney or an agent’s 11 authority under this section is not effective as to the 12 agent or another person that, without actual knowledge of the 13 termination, acts in good faith under the power of attorney. 14 An act so performed, unless otherwise invalid or unenforceable, 15 binds the principal and the principal’s successors in interest. 16 5. Incapacity of the principal of a power of attorney 17 that is not durable does not revoke or terminate the power of 18 attorney as to an agent or other person that, without actual 19 knowledge of the incapacity, acts in good faith under the power 20 of attorney. An act so performed, unless otherwise invalid 21 or unenforceable, binds the principal and the principal’s 22 successors in interest. 23 6. Except as provided in section 633B.103, the execution of 24 a general or plenary power of attorney revokes all general or 25 plenary powers of attorney previously executed in this state by 26 the principal, but does not revoke a power of attorney limited 27 to a specific and identifiable action or transaction, which 28 action or transaction is still capable of performance but has 29 not yet been fully accomplished by the agent. 30 Sec. 13. NEW SECTION . 633B.111 Coagents and successor 31 agents. 32 1. A principal may designate two or more persons to act as 33 coagents. Unless the power of attorney otherwise provides, all 34 of the following apply to actions of coagents: 35 -7- LSB 5082YC (4) 85 rh/rj 7/ 49

H.F. _____ a. A power held by coagents shall be exercised by majority 1 action. 2 b. If impasse occurs due to the failure to reach a majority 3 decision, any agent may petition the court to decide the issue, 4 or a majority of the agents may consent to an alternative form 5 of dispute resolution. 6 c. If one or more agents resigns or becomes unable to act, 7 the remaining coagents may act. 8 2. A principal may designate one or more successor agents 9 to act if an agent resigns, dies, becomes incapacitated, is 10 not qualified to serve, or declines to serve. A principal may 11 grant authority to designate one or more successor agents to an 12 agent or other person designated by name, office, or function. 13 Unless the power of attorney otherwise provides, a successor 14 agent: 15 a. Has the same authority as that granted to the original 16 agent. 17 b. Shall not act until all predecessor agents have resigned, 18 died, become incapacitated, are no longer qualified to serve, 19 or have declined to serve. 20 3. Except as otherwise provided in the power of attorney 21 and subsection 4, an agent that does not participate in or 22 conceal a breach of fiduciary duty committed by another agent, 23 including a predecessor agent, is not liable for the actions 24 of the other agent. 25 4. An agent with actual knowledge of a breach or imminent 26 breach of fiduciary duty by another agent shall notify the 27 principal and, if the principal is incapacitated, take any 28 action reasonably appropriate in the circumstances to safeguard 29 the principal’s best interest. An agent that fails to notify 30 the principal or take action as required by this subsection is 31 liable for the reasonably foreseeable damages that could have 32 been avoided if the agent had notified the principal or taken 33 such action. 34 Sec. 14. NEW SECTION . 633B.112 Reimbursement and 35 -8- LSB 5082YC (4) 85 rh/rj 8/ 49

H.F. _____ compensation of agent. 1 Unless the power of attorney otherwise provides, an 2 agent who is an individual is entitled to reimbursement of 3 expenses reasonably incurred on behalf of the principal but 4 not to compensation. If a power of attorney does provide 5 for compensation or if the agent is a bank or trust company 6 authorized to administer trusts in Iowa, the compensation must 7 be reasonable under the circumstances. 8 Sec. 15. NEW SECTION . 633B.113 Agent’s acceptance. 9 Except as otherwise provided in the power of attorney, 10 a person accepts appointment as an agent under a power of 11 attorney by exercising authority or performing duties as 12 an agent or by any other assertion or conduct indicating 13 acceptance. 14 Sec. 16. NEW SECTION . 633B.114 Agent’s duties. 15 1. Notwithstanding provisions in the power of attorney, an 16 agent that has accepted appointment shall act in conformity 17 with all of the following: 18 a. In accordance with the principal’s reasonable 19 expectations to the extent actually known by the agent and 20 otherwise in the principal’s best interest. 21 b. In good faith. 22 c. Only within the scope of authority granted in the power 23 of attorney. 24 2. Except as otherwise provided in the power of attorney, 25 an agent that has accepted appointment shall do all of the 26 following: 27 a. Act loyally for the principal’s benefit. 28 b. Act so as not to create a conflict of interest that 29 impairs the agent’s ability to act impartially in the 30 principal’s best interest. 31 c. Act with the care, competence, and diligence ordinarily 32 exercised by agents in similar circumstances. 33 d. Keep a record of all receipts, disbursements, and 34 transactions made on behalf of the principal. 35 -9- LSB 5082YC (4) 85 rh/rj 9/ 49

H.F. _____ e. Cooperate with a person that has authority to make health 1 care decisions for the principal to carry out the principal’s 2 reasonable expectations to the extent actually known by the 3 agent and, otherwise, act in the principal’s best interest. 4 f. Attempt to preserve the principal’s estate plan, to the 5 extent actually known by the agent, if preserving the plan is 6 consistent with the principal’s best interest based upon all 7 relevant factors, including all of the following: 8 (1) The value and nature of the principal’s property. 9 (2) The principal’s foreseeable obligations and need for 10 maintenance. 11 (3) Minimization of the principal’s taxes, including 12 income, estate, inheritance, generation-skipping transfer, and 13 gift taxes. 14 (4) The principal’s eligibility for a benefit, a program, or 15 assistance under a statute or regulation or contract. 16 3. An agent that acts in good faith is not liable to any 17 beneficiary under the principal’s estate plan for failure to 18 preserve the plan. 19 4. An agent that acts with care, competence, and diligence 20 for the best interest of the principal is not liable solely 21 because the agent also benefits from the act or has an 22 individual or conflicting interest in relation to the property 23 or affairs of the principal. 24 5. If an agent is selected by the principal because of 25 special skills or expertise possessed by the agent or in 26 reliance on the agent’s representation that the agent has 27 special skills or expertise, the special skills or expertise 28 shall be considered in determining whether the agent has acted 29 with care, competence, and diligence under the circumstances. 30 6. Absent a breach of duty to the principal, an agent is not 31 liable if the value of the principal’s property declines. 32 7. An agent that exercises authority to delegate to another 33 person the authority granted by the principal or that engages 34 another person on behalf of the principal is not liable for an 35 -10- LSB 5082YC (4) 85 rh/rj 10/ 49

H.F. _____ act, error of judgment, or default of that person if the agent 1 exercises care, competence, and diligence in selecting and 2 monitoring the person. 3 8. Except as otherwise provided in the power of attorney, 4 an agent is not required to disclose receipts, disbursements, 5 or transactions conducted on behalf of the principal 6 unless ordered by a court or requested by the principal, a 7 conservator, another fiduciary acting for the principal, a 8 governmental agency having authority to protect the welfare 9 of the principal, or, upon the death of the principal, by 10 the personal representative or a successor in interest of 11 the principal’s estate. If an agent receives a request 12 to disclose such information, the agent shall comply with 13 the request within thirty days of the request or provide a 14 writing substantiating why additional time is necessary. Such 15 additional time shall not exceed thirty days. 16 Sec. 17. NEW SECTION . 633B.115 Exoneration of agent. 17 A provision in a power of attorney relieving an agent of 18 liability for breach of duty is binding on the principal and 19 the principal’s successors in interest except to the extent the 20 provision does any of the following: 21 1. Relieves the agent of liability for a breach of duty 22 committed in bad faith, with an improper motive, or with 23 reckless indifference to the purposes of the power of attorney 24 or the best interest of the principal. 25 2. Was included in the power of attorney as a result of 26 an abuse of a confidential or fiduciary relationship with the 27 principal. 28 Sec. 18. NEW SECTION . 633B.116 Judicial relief. 29 1. The following persons may petition a court to construe a 30 power of attorney or to review an agent’s conduct: 31 a. The principal or the agent. 32 b. A guardian, conservator, or other fiduciary acting for 33 the principal. 34 c. A person authorized to make health care decisions for the 35 -11- LSB 5082YC (4) 85 rh/rj 11/ 49

H.F. _____ principal. 1 d. The principal’s spouse, parent, or descendant or an 2 individual who would qualify as a presumptive heir of the 3 principal. 4 e. A person named as a beneficiary to receive any property, 5 benefit, or contractual right upon the principal’s death or as 6 a beneficiary of a trust created by or for the principal that 7 has a financial interest in the principal’s estate. 8 f. A governmental agency having regulatory authority to 9 protect the welfare of the principal. 10 g. The principal’s caregiver or another person that 11 demonstrates sufficient interest in the principal’s welfare. 12 h. A person asked to accept the power of attorney. 13 i. A person designated by the principal in the power of 14 attorney. 15 2. Upon motion to dismiss by the principal, the court shall 16 dismiss a petition filed under this section unless the court 17 finds that the principal lacks the capacity to revoke the 18 agent’s authority or the power of attorney. 19 3. The court may award reasonable attorney fees and costs to 20 the prevailing party in a proceeding under this section. 21 Sec. 19. NEW SECTION . 633B.117 Agent’s liability. 22 An agent that violates this chapter is liable to the 23 principal or the principal’s successors in interest for the 24 amount required to do both of the following: 25 1. Restore the value of the principal’s property to what it 26 would have been had the violation not occurred. 27 2. Reimburse the principal or the principal’s successors 28 in interest for attorney fees and costs paid on the agent’s 29 behalf. 30 Sec. 20. NEW SECTION . 633B.118 Agent’s resignation —— 31 notice. 32 Unless the power of attorney provides for a different method 33 for an agent’s resignation, an agent may resign by giving 34 notice to the principal and, if the principal is incapacitated, 35 -12- LSB 5082YC (4) 85 rh/rj 12/ 49

H.F. _____ to any of the following: 1 1. The conservator or guardian, if a conservator or guardian 2 has been appointed for the principal, and any coagent or 3 successor agent. 4 2. If there is no conservator, guardian, or coagent or 5 successor agent, the agent may give notice to any of the 6 following: 7 a. The principal’s caregiver. 8 b. Any other person reasonably believed by the agent to have 9 sufficient interest in the principal’s welfare. 10 c. A governmental agency having regulatory authority to 11 protect the welfare of the principal. 12 Sec. 21. NEW SECTION . 633B.119 Acknowledged power of 13 attorney —— acceptance and reliance. 14 1. For purposes of this section and section 633B.120, 15 “acknowledged” means purportedly verified before a notary public 16 or other individual authorized by law to take acknowledgments. 17 2. A person that in good faith accepts an acknowledged power 18 of attorney without actual knowledge that the signature is not 19 genuine may rely upon the presumption under section 633B.105 20 that the signature is genuine. 21 3. A person that in good faith accepts an acknowledged power 22 of attorney without actual knowledge that the power of attorney 23 is void, invalid, or terminated, that the purported agent’s 24 authority is void, invalid, or terminated, or that the agent is 25 exceeding or improperly exercising the agent’s authority may 26 rely upon the power of attorney as if the power of attorney 27 were genuine, valid, and still in effect, the agent’s authority 28 were genuine, valid, and still in effect, and the agent had not 29 exceeded and had not improperly exercised the authority. 30 4. A person that is asked to accept an acknowledged power 31 of attorney may request, and rely upon, all of the following 32 without further investigation: 33 a. An agent’s certification under penalty of perjury of any 34 factual matter concerning the principal, agent, or power of 35 -13- LSB 5082YC (4) 85 rh/rj 13/ 49

H.F. _____ attorney in substantially the same form as set out in section 1 633B.302. 2 b. An English translation of the power of attorney if the 3 power of attorney contains, in whole or in part, language other 4 than English. 5 c. An opinion of agent’s counsel as to any matter of law 6 concerning the power of attorney if the person making the 7 request provides the reason for the request in a writing. 8 5. An English translation or an opinion of counsel requested 9 under this section shall be provided at the principal’s expense 10 unless the request is made more than ten business days after 11 the power of attorney is presented for acceptance. 12 6. For purposes of this section and section 633B.120, a 13 person who conducts activities through an employee is without 14 actual knowledge of a fact relating to a power of attorney, 15 a principal, or an agent if the employee conducting the 16 transaction involving the power of attorney is without actual 17 knowledge of the fact. 18 Sec. 22. NEW SECTION . 633B.120 Refusal to accept 19 acknowledged power of attorney —— liability. 20 1. Except as otherwise provided in subsection 2, all of 21 the following shall apply to a person’s actions regarding an 22 acknowledged power of attorney: 23 a. A person shall either accept an acknowledged power of 24 attorney or request a certification, a translation, or an 25 opinion of counsel under section 633B.119, subsection 4, no 26 later than seven business days after presentation of the power 27 of attorney for acceptance. 28 b. If a person requests a certification, a translation, or 29 an opinion of counsel under section 633B.199, subsection 4, the 30 person shall accept the power of attorney no later than five 31 business days after receipt of the certification, translation, 32 or opinion of counsel. 33 2. A person is not required to accept an acknowledged power 34 of attorney if any of the following occur: 35 -14- LSB 5082YC (4) 85 rh/rj 14/ 49

H.F. _____ a. The person is not otherwise required to engage in a 1 transaction with the principal in the same circumstances. 2 b. Engaging in a transaction with the agent or the principal 3 in the same circumstances would be inconsistent with federal 4 law. 5 c. The person has actual knowledge of the termination of the 6 agent’s authority or of the power of attorney before exercise 7 of the power. 8 d. A request for a certification, a translation, or an 9 opinion of counsel under section 633B.119, subsection 4, is 10 refused. 11 e. The person in good faith believes that the power is 12 not valid or that the agent does not have the authority to 13 perform the act requested, whether or not a certification, a 14 translation, or an opinion of counsel under section 633B.119, 15 subsection 4, has been requested or provided. 16 f. The person makes, or has actual knowledge that another 17 person has made, a report to the department of human services 18 stating a good-faith belief that the principal may be subject 19 to physical or financial abuse, neglect, exploitation, or 20 abandonment by the agent or a person acting for or with the 21 agent. 22 3. A person that refuses to accept an acknowledged power of 23 attorney in violation of this section is subject to both of the 24 following: 25 a. A court order mandating acceptance of the power of 26 attorney. 27 b. Liability for damages sustained by the principal for 28 reasonable attorney fees and costs incurred in any action or 29 proceeding that confirms the validity of the power of attorney 30 or mandates acceptance of the power of attorney, provided that 31 any such action must be brought within one year of the initial 32 request for acceptance of the power of attorney. 33 Sec. 23. NEW SECTION . 633B.121 Principles of law and 34 equity. 35 -15- LSB 5082YC (4) 85 rh/rj 15/ 49

H.F. _____ Unless displaced by a provision of this chapter, the 1 principles of law and equity supplement this chapter. 2 Sec. 24. NEW SECTION . 633B.122 Laws applicable to financial 3 institutions and entities. 4 This chapter does not supersede any other law applicable to 5 financial institutions or other entities, and the other law 6 controls if inconsistent with this chapter. 7 Sec. 25. NEW SECTION . 633B.123 Remedies under other law. 8 The remedies under this chapter are not exclusive and do not 9 abrogate any right or remedy under the law of this state other 10 than this chapter. 11 Sec. 26. NEW SECTION . 633B.201 Authority —— specific and 12 general. 13 1. An agent under a power of attorney may do any of the 14 following on behalf of the principal or with the principal’s 15 property only if the power of attorney expressly grants the 16 agent the authority and the exercise of the authority is not 17 otherwise prohibited by another agreement or instrument to 18 which the authority or property is subject: 19 a. Create, amend, revoke, or terminate an inter vivos trust. 20 b. Make a gift. 21 c. Create or change rights of survivorship. 22 d. Create or change a beneficiary designation. 23 e. Delegate authority granted under the power of attorney. 24 f. Waive the principal’s right to be a beneficiary of a 25 joint and survivor annuity, including but not limited to a 26 survivor benefit under a retirement plan. 27 g. Exercise fiduciary powers that the principal has 28 authority to delegate. 29 h. Disclaim property, including but not limited to a power 30 of appointment. 31 2. Notwithstanding a grant of authority to do an act 32 described in subsection 1, unless the power of attorney 33 otherwise provides, an agent that is not an ancestor, spouse, 34 or descendant of the principal shall not exercise authority 35 -16- LSB 5082YC (4) 85 rh/rj 16/ 49

H.F. _____ under a power of attorney to create in the agent, or in an 1 individual to whom the agent owes a legal obligation of 2 support, an interest in the principal’s property, whether 3 by gift, right of survivorship, beneficiary designation, 4 disclaimer, or otherwise. 5 3. Subject to subsections 1, 2, 4, and 5, if a power 6 of attorney grants an agent authority to do all acts that 7 a principal could do, the agent has the general authority 8 described in sections 633B.204 through 633B.216. 9 4. Unless the power of attorney otherwise provides, a grant 10 of authority to make a gift is subject to section 633B.217. 11 5. Subject to subsections 1, 2, and 4, if the subjects over 12 which authority is granted in a power of attorney are similar 13 or overlap, the broadest authority controls. 14 6. Authority granted in a power of attorney is exercisable 15 with respect to property that the principal has when the power 16 of attorney is executed or acquires later, whether or not 17 the property is located in this state and whether or not the 18 authority is exercised or the power of attorney is executed in 19 this state. 20 7. An act performed by an agent pursuant to a power of 21 attorney has the same effect and inures to the benefit of and 22 binds the principal and the principal’s successors in interest 23 as if the principal had performed the act. 24 Sec. 27. NEW SECTION . 633B.202 Incorporation of authority. 25 1. An agent has authority described in this chapter if the 26 power of attorney refers to general authority with respect 27 to the descriptive term for the subjects stated in sections 28 633B.204 through 633B.217 or cites the section in which the 29 authority is described. 30 2. A reference in a power of attorney to general authority 31 with respect to the descriptive term for a subject stated in 32 sections 633B.204 through 633B.217 or a citation to a section 33 in sections 633B.204 through 633B.217 incorporates the entire 34 section as if it were set out in full in the power of attorney. 35 -17- LSB 5082YC (4) 85 rh/rj 17/ 49

H.F. _____ 3. A principal may modify authority incorporated by 1 reference. 2 Sec. 28. NEW SECTION . 633B.203 Construction of authority 3 generally. 4 Except as otherwise provided in the power of attorney, by 5 executing a power of attorney that incorporates by reference a 6 subject described in sections 633B.204 through 633B.217 or that 7 grants an agent authority to do all acts that a principal could 8 do pursuant to section 633B.201, subsection 3, a principal 9 authorizes the agent, with respect to that subject, to do all 10 of the following: 11 1. Demand, receive, and obtain by litigation or otherwise, 12 money or another thing of value to which the principal is, 13 may become, or claims to be entitled, and conserve, invest, 14 disburse, or use anything so received or obtained for the 15 purposes intended. 16 2. Contract in any manner with any person, on terms 17 agreeable to the agent, to accomplish a purpose of a 18 transaction and perform, rescind, cancel, terminate, reform, 19 restate, release, or modify the contract or another contract 20 made by or on behalf of the principal. 21 3. Execute, acknowledge, seal, deliver, file, or record 22 any instrument or communication the agent considers desirable 23 to accomplish a purpose of a transaction, including but not 24 limited to creating at any time a schedule listing some or all 25 of the principal’s property and attaching the instrument of 26 communication to the power of attorney. 27 4. Initiate, participate in, submit to alternative dispute 28 resolution, settle, oppose, or propose or accept a compromise 29 with respect to a claim existing in favor of or against the 30 principal or intervene in litigation relating to the claim. 31 5. Seek on the principal’s behalf the assistance of a court 32 or other governmental agency to carry out an act authorized in 33 the power of attorney. 34 6. Engage, compensate, and discharge an attorney, 35 -18- LSB 5082YC (4) 85 rh/rj 18/ 49

H.F. _____ accountant, discretionary investment manager, expert witness, 1 or other advisor. 2 7. Prepare, execute, and file a record, report, or other 3 document to safeguard or promote the principal’s interest under 4 a statute, rule, or regulation. 5 8. Communicate with any representative or employee 6 of a government or governmental subdivision, agency, or 7 instrumentality, on behalf of the principal. 8 9. Access communications intended for, and communicate 9 on behalf of the principal, whether by mail, electronic 10 transmission, telephone, or other means. 11 10. Do any lawful act with respect to the subject and all 12 property related to the subject. 13 Sec. 29. NEW SECTION . 633B.204 Real property. 14 Unless the power of attorney otherwise provides and subject 15 to section 633B.201, language in a power of attorney granting 16 general authority with respect to real property authorizes the 17 agent to do all of the following: 18 1. Demand, buy, lease, receive, accept as a gift or as 19 security for an extension of credit, or otherwise acquire or 20 reject an interest in real property or a right incident to real 21 property. 22 2. Sell; exchange; convey with or without covenants, 23 representations, or warranties; quitclaim; release; surrender; 24 retain title for security; encumber; partition; consent to 25 partitioning; be subject to an easement or covenant; subdivide; 26 apply for zoning or other governmental permits; plat or consent 27 to platting; develop; grant an option concerning; lease; 28 sublease; contribute to an entity in exchange for an interest 29 in that entity; or otherwise grant or dispose of an interest in 30 real property or a right incident to real property. 31 3. Pledge or mortgage an interest in real property or right 32 incident to real property as security to borrow money or pay, 33 renew, or extend the time of payment of a debt of the principal 34 or a debt guaranteed by the principal. 35 -19- LSB 5082YC (4) 85 rh/rj 19/ 49

H.F. _____ 4. Release, assign, satisfy, or enforce by litigation 1 or otherwise, a mortgage, deed of trust, conditional sale 2 contract, encumbrance, lien, or other claim to real property 3 which exists or is asserted. 4 5. Manage or conserve an interest in real property or a 5 right incident to real property owned or claimed to be owned 6 by the principal, including but not limited to by doing all of 7 the following: 8 a. Insuring against liability or casualty or other loss. 9 b. Obtaining or regaining possession of or protecting the 10 interest or right by litigation or otherwise. 11 c. Paying, assessing, compromising, or contesting taxes or 12 assessments or applying for and receiving refunds in connection 13 with them. 14 d. Purchasing supplies, hiring assistance or labor, and 15 making repairs or alterations to the real property. 16 6. Use, develop, alter, replace, remove, erect, or install 17 structures or other improvements upon real property in or 18 incident to which the principal has, or claims to have, an 19 interest or right. 20 7. Participate in a reorganization with respect to real 21 property or an entity that owns an interest in or a right 22 incident to real property and receive, hold, and act with 23 respect to stocks and bonds or other property received in 24 a plan of reorganization, including by doing any of the 25 following: 26 a. By selling or otherwise disposing of the stocks, bonds, 27 or other property. 28 b. By exercising or selling an option, right of conversion, 29 or similar right. 30 c. By exercising any voting rights in person or by proxy. 31 8. Change the form of title of an interest in or right 32 incident to real property. 33 9. Dedicate to public use, with or without consideration, 34 easements or other real property in which the principal has, 35 -20- LSB 5082YC (4) 85 rh/rj 20/ 49

H.F. _____ or claims to have, an interest. 1 Sec. 30. NEW SECTION . 633B.205 Tangible personal property. 2 Unless the power of attorney otherwise provides and subject 3 to section 633B.201, language in a power of attorney granting 4 general authority with respect to tangible personal property 5 authorizes the agent to do all of the following: 6 1. Demand, buy, receive, accept as a gift or as security 7 for an extension of credit, or otherwise acquire or reject 8 ownership or possession of tangible personal property or an 9 interest in tangible personal property. 10 2. Sell; exchange; convey with or without covenants, 11 representations, or warranties; quitclaim; release; surrender; 12 create a security interest in; grant options concerning; lease; 13 sublease; or, otherwise dispose of tangible personal property 14 or an interest in tangible personal property. 15 3. Grant a security interest in tangible personal property 16 or an interest in tangible personal property as security to 17 borrow money or pay, renew, or extend the time of payment of a 18 debt of the principal or a debt guaranteed by the principal. 19 4. Release, assign, satisfy, or enforce by litigation or 20 otherwise, a security interest, lien, or other claim on behalf 21 of the principal, with respect to tangible personal property or 22 an interest in tangible personal property. 23 5. Manage or conserve tangible personal property or an 24 interest in tangible personal property on behalf of the 25 principal, including by doing all of the following: 26 a. Insuring against liability or casualty or other loss. 27 b. Obtaining or regaining possession of or protecting the 28 property or interest, by litigation or otherwise. 29 c. Paying, assessing, compromising, or contesting taxes or 30 assessments or applying for and receiving refunds in connection 31 with taxes or assessments. 32 d. Moving the property from place to place. 33 e. Storing the property for hire or on a gratuitous 34 bailment. 35 -21- LSB 5082YC (4) 85 rh/rj 21/ 49

H.F. _____ f. Using and making repairs, alterations, or improvements to 1 the property. 2 6. Change the form of title of an interest in tangible 3 personal property. 4 Sec. 31. NEW SECTION . 633B.206 Stocks and bonds. 5 Unless the power of attorney otherwise provides and subject 6 to section 633B.201, language in a power of attorney granting 7 general authority with respect to stocks and bonds authorizes 8 the agent to do all of the following: 9 1. Buy, sell, and exchange stocks and bonds. 10 2. Establish, continue, modify, or terminate an account 11 with respect to stocks and bonds. 12 3. Pledge stocks and bonds as security to borrow, pay, 13 renew, or extend the time of payment of a debt of the 14 principal. 15 4. Receive certificates and other evidence of ownership 16 with respect to stocks and bonds. 17 5. Exercise voting rights with respect to stocks and bonds 18 in person or by proxy, enter into voting trusts, and consent to 19 limitations on the right to vote. 20 Sec. 32. NEW SECTION . 633B.207 Commodities and options. 21 Unless the power of attorney otherwise provides and subject 22 to section 633B.201, language in a power of attorney granting 23 general authority with respect to commodities and options 24 authorizes the agent to do all of the following: 25 1. Buy, sell, exchange, assign, settle, and exercise 26 commodity futures contracts and call or put options on stocks 27 or stock indexes traded on a regulated option exchange. 28 2. Establish, continue, modify, and terminate option 29 accounts. 30 Sec. 33. NEW SECTION . 633B.208 Banks and other financial 31 institutions. 32 Unless the power of attorney otherwise provides and subject 33 to section 633B.201, language in a power of attorney granting 34 general authority with respect to banks and other financial 35 -22- LSB 5082YC (4) 85 rh/rj 22/ 49

H.F. _____ institutions authorizes the agent to do all of the following: 1 1. Continue, modify, and terminate an account or other 2 banking arrangement made by or on behalf of the principal. 3 2. Establish, modify, and terminate an account or other 4 banking arrangement with a bank, trust company, savings and 5 loan association, credit union, thrift company, brokerage firm, 6 or other financial institution selected by the agent. 7 3. Contract for services available from a financial 8 institution, including but not limited to renting a safe 9 deposit box or space in a vault. 10 4. Withdraw, by check, order, electronic funds transfer, or 11 otherwise, money or property of the principal deposited with or 12 left in the custody of a financial institution. 13 5. Receive statements of account, vouchers, notices, and 14 similar documents from a financial institution and act with 15 respect to them. 16 6. Enter a safe deposit box or vault and withdraw or add to 17 the contents. 18 7. Borrow money and pledge as security personal property 19 of the principal necessary to borrow money or pay, renew, or 20 extend the time of payment of a debt of the principal or a debt 21 guaranteed by the principal. 22 8. Make, assign, draw, endorse, discount, guarantee, 23 and negotiate promissory notes, checks, drafts, and other 24 negotiable or nonnegotiable paper of the principal or payable 25 to the principal or the principal’s order, transfer money, 26 receive the cash or other proceeds of those transactions, and 27 accept a draft drawn by a person upon the principal and pay 28 the promissory note, check, draft, or other negotiable or 29 nonnegotiable paper when due. 30 9. Receive for the principal and act upon a sight draft, 31 warehouse receipt, or other document of title whether tangible 32 or electronic, or any other negotiable or nonnegotiable 33 instrument. 34 10. Apply for, receive, and use letters of credit, credit 35 -23- LSB 5082YC (4) 85 rh/rj 23/ 49

H.F. _____ and debit cards, electronic transaction authorizations, and 1 traveler’s checks from a financial institution and give an 2 indemnity or other agreement in connection with letters of 3 credit. 4 11. Consent to an extension of the time of payment with 5 respect to commercial paper or a financial transaction with a 6 financial institution. 7 Sec. 34. NEW SECTION . 633B.209 Operation of entity or 8 business. 9 Subject to the terms of a document or an agreement governing 10 an entity or business or an entity or business ownership 11 interest, and subject to section 633B.201, and unless the 12 power of attorney otherwise provides, language in a power of 13 attorney granting general authority with respect to operation 14 of an entity or business authorizes the agent to do all of the 15 following: 16 1. Operate, buy, sell, enlarge, reduce, or terminate an 17 ownership interest. 18 2. Perform a duty or discharge a liability and exercise in 19 person or by proxy a right, power, privilege, or option that 20 the principal has, may have, or claims to have. 21 3. Enforce the terms of an ownership agreement. 22 4. Initiate, participate in, submit to alternative dispute 23 resolution, settle, oppose, or propose or accept a compromise 24 with respect to litigation to which the principal is a party 25 because of an ownership interest. 26 5. Exercise in person or by proxy or enforce by litigation 27 or otherwise, a right, power, privilege, or option the 28 principal has or claims to have as the holder of stocks and 29 bonds. 30 6. Initiate, participate in, submit to alternative dispute 31 resolution, settle, oppose, or propose or accept a compromise 32 with respect to litigation to which the principal is a party 33 concerning stocks and bonds. 34 7. Do all of the following with respect to an entity or 35 -24- LSB 5082YC (4) 85 rh/rj 24/ 49

H.F. _____ business owned solely by the principal: 1 a. Continue, modify, renegotiate, extend, and terminate a 2 contract made by or on behalf of the principal with respect 3 to the entity or business before execution of the power of 4 attorney. 5 b. Determine all of the following: 6 (1) The location of the entity or business operation. 7 (2) The nature and extent of the entity or business. 8 (3) The methods of manufacturing, selling, merchandising, 9 financing, accounting, and advertising employed in the 10 operation of the entity or business. 11 (4) The amount and types of insurance carried by the entity 12 or business. 13 (5) The mode of engaging, compensating, and dealing with 14 the employees, accountants, attorneys, or other advisors of the 15 entity or business. 16 c. Change the name or form of organization under which the 17 entity or business is operated and enter into an ownership 18 agreement with other persons to take over all or part of the 19 operation of the entity or business. 20 d. Demand and receive money due or claimed by the principal 21 or on the principal’s behalf in the operation of the entity or 22 business and control and disburse the money in the operation of 23 the entity or business. 24 8. Inject needed capital into an entity or business in which 25 the principal has an interest. 26 9. Join in a plan of reorganization, consolidation, 27 conversion, domestication, or merger of the entity or business. 28 10. Sell or liquidate all or part of the entity or business. 29 11. Establish the value of an entity or business under a 30 buyout agreement to which the principal is a party. 31 12. Prepare, sign, file, and deliver reports, compilations 32 of information, returns, or other papers with respect to an 33 entity or business and make related payments. 34 13. Pay, compromise, or contest taxes, assessments, fines, 35 -25- LSB 5082YC (4) 85 rh/rj 25/ 49

H.F. _____ or penalties and perform any other act to protect the principal 1 from illegal or unnecessary taxation, assessments, fines, or 2 penalties with respect to an entity or business, including but 3 not limited to attempts to recover, in any manner permitted by 4 law, money paid before or after the execution of the power of 5 attorney. 6 Sec. 35. NEW SECTION . 633B.210 Insurance and annuities. 7 Unless the power of attorney otherwise provides and subject 8 to section 633B.201, language in a power of attorney granting 9 general authority with respect to insurance and annuities 10 authorizes the agent to do all of the following: 11 1. Continue, pay the premium or make a contribution on, 12 modify, exchange, rescind, release, or terminate a contract 13 procured by or on behalf of the principal which insures or 14 provides an annuity to either the principal or another person 15 whether or not the principal is a beneficiary under the 16 contract. 17 2. Procure new, different, and additional contracts of 18 insurance and annuities for the principal and the principal’s 19 spouse, children, and other dependents, and select the amount, 20 type of insurance or annuity, and mode of payment. 21 3. Pay the premium or make a contribution on, modify, 22 exchange, rescind, release, or terminate a contract of 23 insurance or annuity procured by the agent. 24 4. Apply for and receive a loan secured by a contract of 25 insurance or annuity. 26 5. Surrender and receive the cash surrender value on a 27 contract of insurance or annuity. 28 6. Exercise an election. 29 7. Exercise investment powers available under a contract of 30 insurance or annuity. 31 8. Change the manner of paying premiums on a contract of 32 insurance or annuity. 33 9. Change or convert the type of insurance or annuity with 34 respect to which the principal has or claims to have authority 35 -26- LSB 5082YC (4) 85 rh/rj 26/ 49

H.F. _____ described in this section. 1 10. Apply for and procure a benefit or assistance under a 2 statute, rule, or regulation to guarantee or pay premiums of a 3 contract of insurance on the life of the principal. 4 11. Collect, sell, assign, hypothecate, borrow against, or 5 pledge the interest of the principal in a contract of insurance 6 or annuity. 7 12. Select the form and timing of the payment of proceeds 8 from a contract of insurance or annuity. 9 13. Pay, from proceeds or otherwise, compromise or contest, 10 and apply for refunds in connection with a tax or assessment 11 levied by a taxing authority with respect to a contract of 12 insurance or annuity or its proceeds or liability accruing by 13 reason of the tax or assessment. 14 Sec. 36. NEW SECTION . 633B.211 Estates, trusts, and other 15 beneficial interests. 16 1. In this section, “estate, trust, or other beneficial 17 interest” means a trust, probate estate, guardianship, 18 conservatorship, escrow, or custodianship, or a fund from which 19 the principal is, may become, or claims to be, entitled to a 20 share or payment. 21 2. Unless the power of attorney otherwise provides, 22 language in a power of attorney granting general authority with 23 respect to estates, trusts, and other beneficial interests 24 authorizes the agent to do all of the following: 25 a. Accept, receive, provide a receipt for, sell, assign, 26 pledge, or exchange a share in or payment from an estate, 27 trust, or other beneficial interest. 28 b. Demand or obtain money or another thing of value to which 29 the principal is, may become, or claims to be, entitled by 30 reason of an estate, trust, or other beneficial interest, by 31 litigation or otherwise. 32 c. Exercise for the benefit of the principal a presently 33 exercisable general power of appointment held by the principal. 34 d. Initiate, participate in, submit to alternative dispute 35 -27- LSB 5082YC (4) 85 rh/rj 27/ 49

H.F. _____ resolution, settle, oppose, or propose or accept a compromise 1 with respect to litigation to ascertain the meaning, validity, 2 or effect of a deed, will, declaration of trust, or other 3 instrument or transaction affecting the interest of the 4 principal. 5 e. Initiate, participate in, submit to alternative dispute 6 resolution, settle, oppose, or propose or accept a compromise 7 with respect to litigation to remove, substitute, or surcharge 8 a fiduciary. 9 f. Conserve, invest, disburse, or use any assets received 10 for an authorized purpose. 11 g. Transfer an interest of the principal in real property, 12 stocks and bonds, accounts with financial institutions or 13 securities intermediaries, insurance, annuities, and other 14 property to the trustee of a revocable trust created by the 15 principal as settlor. 16 h. Reject, renounce, disclaim, release, or consent to a 17 reduction in or modification of a share in or payment from an 18 estate, trust, or other beneficial interest. 19 Sec. 37. NEW SECTION . 633B.212 Claims and litigation. 20 Unless the power of attorney otherwise provides and subject 21 to section 633B.201, language in a power of attorney granting 22 general authority with respect to claims and litigation 23 authorizes the agent to do all of the following: 24 1. Assert and maintain before a court or administrative 25 agency a claim, claim for relief, cause of action, 26 counterclaim, offset, recoupment, or defense, including but 27 not limited to an action to recover property or other thing of 28 value, recover damages sustained by the principal, eliminate 29 or modify tax liability, or seek an injunction, specific 30 performance, or other relief. 31 2. Bring an action to determine adverse claims or intervene 32 or otherwise participate in litigation. 33 3. Seek an attachment, garnishment, or other preliminary, 34 provisional, or intermediate relief and use an available 35 -28- LSB 5082YC (4) 85 rh/rj 28/ 49

H.F. _____ procedure to effect or satisfy a judgment, order, or decree. 1 4. Make or accept a tender, offer of judgment, or admission 2 of facts, submit a controversy on an agreed statement of facts, 3 consent to examination, and bind the principal in litigation. 4 5. Submit to alternative dispute resolution, or settle, 5 propose, or accept a compromise. 6 6. Waive the issuance and service of process upon the 7 principal, accept service of process, appear for the principal, 8 designate persons upon which process directed to the principal 9 may be served, execute and file or deliver stipulations on the 10 principal’s behalf, verify pleadings, seek appellate review, 11 procure and give surety and indemnity bonds, contract and 12 pay for the preparation and printing of records and briefs, 13 receive, execute, and file or deliver a consent, waiver, 14 release, confession of judgment, satisfaction of judgment, 15 notice, agreement, or other instrument in connection with the 16 prosecution, settlement, or defense of a claim or litigation. 17 7. Act for the principal with respect to bankruptcy or 18 insolvency, whether voluntary or involuntary, concerning 19 the principal or some other person, or with respect to 20 a reorganization, receivership, or application for the 21 appointment of a receiver or trustee which affects an interest 22 of the principal in property or other thing of value. 23 8. Pay a judgment, award, or order against the principal or 24 a settlement made in connection with a claim or litigation. 25 9. Receive money or other thing of value paid in settlement 26 of or as proceeds of a claim or litigation. 27 Sec. 38. NEW SECTION . 633B.213 Personal and family 28 maintenance. 29 1. Unless the power of attorney otherwise provides and 30 subject to subsection 633B.201, language in a power of attorney 31 granting general authority with respect to personal and family 32 maintenance authorizes the agent to do all of the following: 33 a. Perform the acts necessary to maintain the customary 34 standard of living of the principal, the principal’s spouse, 35 -29- LSB 5082YC (4) 85 rh/rj 29/ 49

H.F. _____ and the following individuals, whether living when the power of 1 attorney is executed or later born: 2 (1) The principal’s minor children. 3 (2) The principal’s adult children who are pursuing a 4 postsecondary school education and are under the age of 5 twenty-five. 6 (3) The principal’s parents or the parents of the 7 principal’s spouse, if the principal had established a pattern 8 of such payments. 9 (4) Any other individuals legally entitled to be supported 10 by the principal. 11 b. Make periodic payments of child support and other family 12 maintenance required by a court or governmental agency or an 13 agreement to which the principal is a party. 14 c. Provide living quarters for the individuals described in 15 paragraph “a” by any of the following: 16 (1) Purchase, lease, or other contract. 17 (2) Paying the operating costs, including but not limited 18 to interest, amortization payments, repairs, improvements, and 19 taxes, for premises owned by the principal or occupied by those 20 individuals. 21 d. Provide funds for shelter, clothing, food, appropriate 22 education, including postsecondary and vocational education, 23 and other current living costs for the individuals described 24 in paragraph “a” to enable those individuals to maintain their 25 customary standard of living. 26 e. Pay expenses for necessary health care and custodial care 27 on behalf of the individuals described in paragraph “a” . 28 f. Act as the principal’s personal representative pursuant 29 to the federal Health Insurance Portability and Accountability 30 Act of 1996, Pub. L. No. 104-191, including amendments thereto 31 and regulations promulgated thereunder, in making decisions 32 related to past, present, or future payments for the provision 33 of health care consented to by the principal or anyone 34 authorized under the law of this state to consent to health 35 -30- LSB 5082YC (4) 85 rh/rj 30/ 49

H.F. _____ care on behalf of the principal. 1 g. Continue any provision made by the principal for 2 automobiles or other means of transportation, including 3 registering, licensing, insuring, and replacing them, for the 4 individuals described in paragraph “a” . 5 h. Maintain credit and debit accounts for the convenience 6 of the individuals described in paragraph “a” and open new 7 accounts. 8 i. Continue payments or contributions incidental to the 9 membership or affiliation of the principal in a religious 10 institution, club, society, order, or other organization. 11 2. Authority with respect to personal and family 12 maintenance is neither dependent upon, nor limited by, 13 authority that an agent may or may not have with respect to 14 gifts under this chapter. 15 Sec. 39. NEW SECTION . 633B.214 Benefits from governmental 16 programs or civil or military service. 17 1. In this section, “benefits from governmental programs 18 or civil or military service” means any benefit, program, 19 or assistance provided under a statute, rule, or regulation 20 relating to but not limited to social security, Medicare, or 21 Medicaid. 22 2. Unless the power of attorney otherwise provides, 23 language in a power of attorney granting general authority 24 with respect to benefits from governmental programs or civil 25 or military service authorizes the agent to do all of the 26 following: 27 a. Execute vouchers in the name of the principal for 28 allowances and reimbursements payable by the United States, a 29 foreign government, or a state or subdivision of a state to 30 the principal, including but not limited to allowances and 31 reimbursements for transportation of the individuals described 32 in section 633B.213, subsection 1, paragraph “a” , and for 33 shipment of the household effects of such individuals. 34 b. Take possession and order the removal and shipment of 35 -31- LSB 5082YC (4) 85 rh/rj 31/ 49

H.F. _____ property of the principal from a post, warehouse, depot, dock, 1 or other place of storage or safekeeping, either governmental 2 or private, and execute and deliver a release, voucher, 3 receipt, bill of lading, shipping ticket, certificate, or other 4 instrument for that purpose. 5 c. Enroll in, apply for, select, reject, change, amend, or 6 discontinue, on the principal’s behalf, a benefit or program. 7 d. Prepare, file, and maintain a claim of the principal for 8 a benefit or assistance, financial or otherwise, to which the 9 principal may be entitled under a statute, rule, or regulation. 10 e. Initiate, participate in, submit to alternative dispute 11 resolution, settle, oppose, or propose or accept a compromise 12 with respect to litigation concerning any benefit or assistance 13 the principal may be entitled to receive under a statute, rule, 14 or regulation. 15 f. Receive the financial proceeds of a claim described in 16 paragraph “d” and conserve, invest, disburse, or use for a 17 lawful purpose anything so received. 18 Sec. 40. NEW SECTION . 633B.215 Retirement plans. 19 1. In this section, “retirement plan” means a plan or 20 account created by an employer, the principal, or another 21 individual to provide retirement benefits or deferred 22 compensation in which the principal is a participant, 23 beneficiary, or owner, including but not limited to a plan or 24 account under the following sections of the Internal Revenue 25 Code: 26 a. An individual retirement account in accordance with 27 section 408. 28 b. A Roth individual retirement account established under 29 section 408A. 30 c. A deemed individual retirement account under section 31 408(q). 32 d. An annuity or mutual fund custodial account under section 33 403(b). 34 e. A pension, profit-sharing, stock bonus, or other 35 -32- LSB 5082YC (4) 85 rh/rj 32/ 49

H.F. _____ retirement plan qualified under section 401(a). 1 f. An eligible deferred compensation plan under section 2 457(b). 3 g. A nonqualified deferred compensation plan under section 4 409A. 5 2. Unless the power of attorney otherwise provides, 6 language in a power of attorney granting general authority with 7 respect to retirement plans authorizes the agent to do all of 8 the following: 9 a. Select the form and timing of payments under a retirement 10 plan and withdraw benefits from a plan. 11 b. Make a rollover, including a direct trustee-to-trustee 12 rollover of benefits from one retirement plan to another. 13 c. Establish a retirement plan in the principal’s name. 14 d. Make contributions to a retirement plan. 15 e. Exercise investment powers available under a retirement 16 plan. 17 f. Borrow from, sell assets to, or purchase assets from a 18 retirement plan. 19 Sec. 41. NEW SECTION . 633B.216 Taxes. 20 Unless the power of attorney otherwise provides, language in 21 a power of attorney granting general authority with respect to 22 taxes authorizes the agent to do all of the following: 23 1. Prepare, sign, and file federal, state, local, and 24 foreign income, gift, payroll, property, Federal Insurance 25 Contributions Act returns and other tax returns, claims for 26 refunds, requests for extension of time, petitions regarding 27 tax matters, and any other tax-related documents, including 28 receipts, offers, waivers, consents, including but not limited 29 to consents and agreements under section 2032A of the Internal 30 Revenue Code, closing agreements, and any power of attorney 31 required by the Internal Revenue Service or other taxing 32 authority with respect to a tax year upon which the statute of 33 limitations has not run. 34 2. Pay taxes due, collect refunds, post bonds, receive 35 -33- LSB 5082YC (4) 85 rh/rj 33/ 49

H.F. _____ confidential information, and contest deficiencies determined 1 by the Internal Revenue Service or other taxing authority. 2 3. Exercise any election available to the principal under 3 federal, state, local, or foreign tax law. 4 4. Act for the principal in all tax matters for all periods 5 before the Internal Revenue Service or any other taxing 6 authority. 7 Sec. 42. NEW SECTION . 633B.217 Gifts. 8 1. In this section, a gift “for the benefit of” a person 9 includes a gift to a trust, an account under a uniform 10 transfers to minors Act, and a qualified state tuition program 11 exempt from taxation pursuant to section 529 of the Internal 12 Revenue Code. 13 2. Unless the power of attorney otherwise provides, 14 language in a power of attorney granting general authority with 15 respect to gifts authorizes the agent only to do all of the 16 following: 17 a. Make a gift of any of the principal’s property outright 18 to, or for the benefit of, a person, including but not limited 19 to by the exercise of a presently exercisable general power 20 of appointment held by the principal, in an amount per donee 21 not to exceed the annual dollar limits of the federal gift 22 tax exclusion under section 2503(b) of the Internal Revenue 23 Code without regard to whether the federal gift tax exclusion 24 applies to the gift or if the principal’s spouse agrees 25 to consent to a split gift pursuant to section 2513 of the 26 Internal Revenue Code in an amount per donee not to exceed 27 twice the annual federal gift tax exclusion limit. 28 b. Consent to the splitting of a gift made by the 29 principal’s spouse pursuant to section 2513 of the Internal 30 Revenue Code in an amount per donee not to exceed the aggregate 31 annual gift tax exclusions for both spouses. 32 3. An agent may make a gift of the principal’s property 33 only as the agent determines is consistent with the principal’s 34 objectives if actually known by the agent and, if unknown, 35 -34- LSB 5082YC (4) 85 rh/rj 34/ 49

H.F. _____ as the agent determines is consistent with the principal’s 1 best interest based on all relevant factors, including but not 2 limited to all of the following: 3 a. The value and nature of the principal’s property. 4 b. The principal’s foreseeable obligations and need for 5 maintenance. 6 c. The minimization of taxes, including but not limited to 7 income, estate, inheritance, generation-skipping transfer, and 8 gift taxes. 9 d. Eligibility for a benefit, a program, or assistance under 10 a statute, rule, or regulation. 11 e. The principal’s personal history of making or joining in 12 making gifts. 13 Sec. 43. NEW SECTION . 633B.301 Power of attorney —— form. 14 A document substantially in the following form may be used to 15 create a statutory power of attorney that has the meaning and 16 effect prescribed by this chapter: 17 IOWA STATUTORY POWER OF ATTORNEY FORM 18 1. POWER OF ATTORNEY 19 This power of attorney authorizes another person (your 20 agent) to make decisions concerning your property for you (the 21 principal). Your agent will be able to make decisions and act 22 with respect to your property (including but not limited to 23 your money) whether or not you are able to act for yourself. 24 The meaning of authority over subjects listed on this form is 25 explained in the Iowa Uniform Power of Attorney Act, Iowa Code 26 chapter 633B. 27 This power of attorney does not authorize the agent to make 28 health care decisions for you. 29 You should select someone you trust to serve as your agent. 30 Unless you specify otherwise, generally the agent’s authority 31 will continue until you die or revoke the power of attorney or 32 the agent resigns or is unable to act for you. 33 Your agent is not entitled to compensation unless you state 34 otherwise in the optional Special Instructions. 35 -35- LSB 5082YC (4) 85 rh/rj 35/ 49

H.F. _____ This form provides for designation of one agent. If you 1 wish to name more than one agent, you may name a coagent in the 2 optional Special Instructions. Coagents must act by majority 3 rule unless you provide otherwise in the optional Special 4 Instructions. 5 If your agent is unable or unwilling to act for you, your 6 power of attorney will end unless you have named a successor 7 agent. You may also name a second successor agent. 8 This power of attorney becomes effective immediately upon 9 signature and acknowledgment unless you state otherwise in the 10 optional Special Instructions. 11 If you have questions about this power of attorney or the 12 authority you are granting to your agent, you should seek legal 13 advice before signing this form. 14 DESIGNATION OF AGENT 15 I _________________________ (name of principal) name the 16 following person as my agent: 17 Name of Agent ____________________________________________ 18 Agent’s Address __________________________________________ 19 Agent’s Telephone Number _________________________________ 20 DESIGNATION OF SUCCESSOR AGENT(S) (OPTIONAL) 21 If my agent is unable or unwilling to act for me, I name as 22 my successor agent: 23 Name of Successor Agent __________________________________ 24 Successor Agent’s Address ________________________________ 25 Successor Agent’s Telephone Number _______________________ 26 If my successor agent is unable or unwilling to act for me, I 27 name as my second successor agent: 28 Name of Second Successor Agent ___________________________ 29 Second Successor Agent’s Address _________________________ 30 Second Successor Agent’s Telephone Number ________________ 31 GRANT OF GENERAL AUTHORITY 32 I grant my agent and any successor agent general authority to 33 act for me with respect to the following subjects as defined in 34 the Iowa Uniform Power of Attorney Act, Iowa Code chapter 633B: 35 -36- LSB 5082YC (4) 85 rh/rj 36/ 49

H.F. _____ (Initial each subject you want to include in the agent’s 1 general authority. If you wish to grant general authority over 2 all of the subjects you may initial “All Preceding Subjects” 3 instead of initialing each subject.) 4 ___ Real Property 5 ___ Tangible Personal Property 6 ___ Stocks and Bonds 7 ___ Commodities and Options 8 ___ Banks and Other Financial Institutions 9 ___ Operation of Entity or Business 10 ___ Insurance and Annuities 11 ___ Estates, Trusts, and Other Beneficial Interests 12 ___ Claims and Litigation 13 ___ Personal and Family Maintenance 14 ___ Benefits from Governmental Programs or Civil or Military 15 Service 16 ___ Retirement Plans 17 ___ Taxes 18 ___ All Preceding Subjects 19 GRANT OF SPECIFIC AUTHORITY (OPTIONAL) 20 My agent shall not do any of the following specific acts for 21 me unless I have initialed the specific authority listed below: 22 (Caution: Granting any of the following will give your agent 23 the authority to take actions that could significantly reduce 24 your property or change how your property is distributed at 25 your death. Initial only the specific authority you WANT to 26 give your agent.) 27 ___ Amend, revoke, or terminate a revocable inter vivos 28 trust, if authorized by the trust. 29 ___ Agree to the amendment or termination of any other inter 30 vivos trust. 31 ___ Make a gift to an individual who is not an agent, subject 32 to the limitations of the Iowa Uniform Power of Attorney Act, 33 Iowa Code section 633B.217, and any special instructions in 34 this power of attorney. 35 -37- LSB 5082YC (4) 85 rh/rj 37/ 49

H.F. _____ Make gifts, either direct or indirect, to my agent acting 1 under this power of attorney as follows: 2 ___ Any such gift must be approved in writing by 3 ________________; or 4 ___ No third party approval is needed. 5 ___ Authorize another person to exercise the authority 6 granted under this power of attorney. 7 ___ Waive the principal’s right to be a beneficiary of a 8 joint and survivor annuity, including a survivor benefit under 9 a retirement plan. 10 ___ Exercise fiduciary powers that the principal has 11 authority to delegate. 12 ___ Disclaim or refuse an interest in property, including a 13 power of appointment. 14 LIMITATION ON AGENT’S AUTHORITY 15 An agent that is not my ancestor, spouse, or descendant shall 16 not use my property to benefit the agent or a person to whom the 17 agent owes an obligation of support unless I have included that 18 authority in the optional Special Instructions. 19 SPECIAL INSTRUCTIONS (OPTIONAL) 20 You may give special instructions on the following lines: 21 ___________________________________________________________ 22 ___________________________________________________________ 23 ___________________________________________________________ 24 ___________________________________________________________ 25 ___________________________________________________________ 26 ___________________________________________________________ 27 ___________________________________________________________ 28 ___________________________________________________________ 29 ___________________________________________________________ 30 ___________________________________________________________ 31 ___________________________________________________________ 32 _________________________ shall have the authority to 33 request an accounting of any agent. 34 EFFECTIVE DATE 35 -38- LSB 5082YC (4) 85 rh/rj 38/ 49

H.F. _____ This power of attorney is effective immediately upon 1 signature and acknowledgment unless I have stated otherwise in 2 the optional Special Instructions. 3 NOMINATION OF CONSERVATOR AND GUARDIAN (OPTIONAL) 4 If it becomes necessary for a court to appoint a conservator 5 of my estate or guardian of my person, I nominate the following 6 person(s) for appointment: 7 Name of Nominee for Conservator of My Estate _____________ 8 Nominee’s Address ________________________________________ 9 Nominee’s Telephone Number _______________________________ 10 Name of Nominee for Guardian of My Person ________________ 11 Nominee’s Address ________________________________________ 12 Nominee’s Telephone Number _______________________________ 13 RELIANCE ON THIS POWER OF ATTORNEY 14 Any person, including my agent, may rely upon the validity of 15 this power of attorney or a copy of it unless that person knows 16 it has terminated or is invalid. 17 SIGNATURE AND ACKNOWLEDGMENT 18 _____________________________ _________________________ 19 Your Signature Date 20 _____________________________ 21 Your Name Printed 22 _____________________________ 23 _____________________________ 24 Your Address 25 _____________________________ 26 Your Telephone Number 27 State of ____________________ 28 County of ___________________ 29 This document was acknowledged before me on _______________ 30 (date), by __________________________ (name of principal) 31 _____________________________ (Seal, if any) 32 Signature of Notary 33 My commission expires ________________ 34 This document prepared by 35 -39- LSB 5082YC (4) 85 rh/rj 39/ 49

H.F. _____ ___________________________________________________________ 1 ___________________________________________________________ 2 2. IMPORTANT INFORMATION FOR AGENT 3 AGENT’S DUTIES 4 When you accept the authority granted under this power of 5 attorney, a special legal relationship is created between the 6 principal and you. This relationship imposes upon you legal 7 duties that continue until you resign or the power of attorney 8 is terminated or revoked. You must do all of the following: 9 Do what you know the principal reasonably expects you to 10 do with the principal’s property or, if you do not know the 11 principal’s expectations, act in the principal’s best interest. 12 Act in good faith. 13 Do nothing beyond the authority granted in this power of 14 attorney. 15 Disclose your identity as an agent whenever you act for the 16 principal by writing or printing the name of the principal and 17 signing your own name as agent in the following manner: 18 _______________________ (principal’s name) by 19 _______________________ (your signature) as Agent 20 Unless the Special Instructions in this power of attorney 21 state otherwise, you must also do all of the following: 22 Act loyally for the principal’s benefit. 23 Avoid conflicts that would impair your ability to act in the 24 principal’s best interest. 25 Act with care, competence, and diligence. 26 Keep a record of all receipts, disbursements, and 27 transactions made on behalf of the principal. 28 Cooperate with any person that has authority to make 29 health care decisions for the principal to do what you know 30 the principal reasonably expects or, if you do not know the 31 principal’s expectations, to act in the principal’s best 32 interest. 33 Attempt to preserve the principal’s estate plan if you 34 know the plan and preserving the plan is consistent with the 35 -40- LSB 5082YC (4) 85 rh/rj 40/ 49

H.F. _____ principal’s best interest. 1 TERMINATION OF AGENT’S AUTHORITY 2 You must stop acting on behalf of the principal if you learn 3 of any event that terminates this power of attorney or your 4 authority under this power of attorney. Events that terminate 5 a power of attorney or your authority to act under a power of 6 attorney include any of the following: 7 Death of the principal. 8 The principal’s revocation of the power of attorney or your 9 authority. 10 The occurrence of a termination event stated in the power of 11 attorney. 12 The purpose of the power of attorney is fully accomplished. 13 If you are married to the principal, a legal action is 14 filed with a court to end your marriage, or for your legal 15 separation, unless the Special Instructions in this power of 16 attorney state that such an action will not terminate your 17 authority. 18 LIABILITY OF AGENT 19 The meaning of the authority granted to you is defined in the 20 Iowa Uniform Power of Attorney Act, Iowa Code chapter 633B. If 21 you violate the Iowa Uniform Power of Attorney Act, Iowa Code 22 chapter 633B, or act outside the authority granted, you may be 23 liable for any damages caused by your violation. 24 If there is anything about this document or your duties that 25 you do not understand, you should seek legal advice. 26 Sec. 44. NEW SECTION . 633B.302 Agent’s certification —— 27 optional form. 28 The following optional form may be used by an agent to 29 certify facts concerning a power of attorney: 30 IOWA STATUTORY POWER OF ATTORNEY AGENT’S CERTIFICATION FORM 31 AGENT’S CERTIFICATION OF VALIDITY OF POWER OF ATTORNEY AND 32 AGENT’S AUTHORITY 33 State of _________________________ 34 County of ______________________ 35 -41- LSB 5082YC (4) 85 rh/rj 41/ 49

H.F. _____ I, ______________________________ (name of agent), certify 1 under penalty of perjury that ______________________________ 2 (name of principal) granted me authority as an agent 3 or successor agent in a power of attorney dated 4 _____________________. 5 I further certify all of the following to my knowledge: 6 The principal is alive and has not revoked the power of 7 attorney or the Power of Attorney and my authority to act under 8 the Power of Attorney have not terminated. 9 If the power of attorney was drafted to become effective 10 upon the happening of an event or contingency, the event or 11 contingency has occurred. 12 If I was named as a successor agent, the prior agent is no 13 longer able or willing to serve. 14 __________________________________________________________ 15 __________________________________________________________ 16 __________________________________________________________. 17 (Insert other relevant statements) 18 SIGNATURE AND ACKNOWLEDGMENT 19 _____________________________ _________________________ 20 Agent’s Signature Date 21 _____________________________ 22 Agent’s Name Printed 23 _____________________________ 24 _____________________________ 25 Agent’s Address 26 _____________________________ 27 Agent’s Telephone Number 28 This document was acknowledged before me on _______________ 29 (date), by __________________________ (name of agent) 30 _____________________________ (Seal, if any) 31 Signature of Notary 32 My commission expires ________________ 33 This document prepared by 34 ___________________________________________________________ 35 -42- LSB 5082YC (4) 85 rh/rj 42/ 49

H.F. _____ ___________________________________________________________ 1 Sec. 45. NEW SECTION . 633B.401 Uniformity of application 2 and construction. 3 In applying and construing this chapter, consideration shall 4 be given to the need to promote uniformity of the law with 5 respect to the subject matter of this chapter among states that 6 enact the uniform power of attorney Act. 7 Sec. 46. NEW SECTION . 633B.402 Relation to Electronic 8 Signatures in Global and National Commerce Act. 9 This chapter modifies, limits, and supersedes the federal 10 Electronic Signatures in Global and National Commerce Act, 15 11 U.S.C. §7001 et seq., but does not modify, limit, or supersede 12 section 101(c) of that Act, 15 U.S.C. §7001(c), or authorize 13 electronic delivery of any of the notices described in section 14 103(b) of that Act, 15 U.S.C. §7003(b). 15 Sec. 47. NEW SECTION . 633B.403 Effect on existing powers of 16 attorney —— attorney in fact. 17 1. This chapter applies to a power of attorney created on 18 or after July 1, 2014. 19 2. This chapter applies to all proceedings concerning a 20 power of attorney commenced on or after July 1, 2014. 21 3. This chapter applies to all proceedings concerning a 22 power of attorney commenced before July 1, 2014, unless the 23 court finds that application of a provision of this chapter 24 would substantially interfere with the effective conduct of the 25 proceedings or the rights of the parties or other interested 26 persons. In that case, the provision does not apply and the 27 court shall apply prior law. 28 4. a. This chapter applies to all acts taken by an attorney 29 in fact on or after July 1, 2014. 30 b. This chapter does not apply to acts taken by an attorney 31 in fact prior to July 1, 2014. 32 Sec. 48. REPEAL. Sections 633B.1 and 633B.2, Code 2014, 33 are repealed. 34 EXPLANATION 35 -43- LSB 5082YC (4) 85 rh/rj 43/ 49

H.F. _____ The inclusion of this explanation does not constitute agreement with 1 the explanation’s substance by the members of the general assembly. 2 This bill creates the Iowa uniform power of attorney Act and 3 provides penalties and includes applicability provisions. 4 Current Code chapter 633B relating to powers of attorney 5 contains provisions relating to situations in which a power 6 of attorney is not affected by the death or disability of the 7 principal and provides notice provisions for the revocation or 8 termination of a power of attorney. 9 The bill repeals current Code chapter 633B and replaces 10 it with the Iowa uniform power of attorney Act, based on 11 the uniform power of attorney Act, which provides specific 12 provisions relating to the creation, duties, responsibilities, 13 and powers of an agent designated in the power of attorney 14 document to manage the principal’s finances and property. The 15 bill also provides remedies for abuses committed by an agent 16 under a power of attorney. The bill defines “agent” to mean a 17 person who is granted authority to act for a principal under a 18 power of attorney, whether referred to as an agent, attorney 19 in fact, or otherwise in the power of attorney document, and 20 includes an original agent, coagent, successor agent, and a 21 person to which an agent’s authority is delegated; “person” 22 means an individual, corporation, business trust, estate, 23 trust, partnership, limited liability company, association, 24 joint venture, public corporation, government or governmental 25 subdivision, agency, or instrumentality, or any other legal 26 or commercial entity; and “principal” means an individual who 27 grants authority to an agent in a power of attorney. 28 GENERAL PROVISIONS. The bill contains the following general 29 provisions relating to a power of attorney: 30 APPLICABILITY. The bill applies to all powers of attorney 31 other than a durable power of attorney for health care (see 32 Code chapter 144B), a voting proxy, a power created on a 33 governmental form for a governmental purpose, and a power 34 coupled with an interest of the agent such as a creditor’s 35 -44- LSB 5082YC (4) 85 rh/rj 44/ 49

H.F. _____ right to protect title in pledged collateral. 1 DURABILITY. A power of attorney is durable unless the power 2 of attorney expressly provides that it is terminated by the 3 principal’s incapacity. 4 EXECUTION. A power of attorney must be signed by the 5 principal or in the principal’s conscious presence by 6 another individual (not the prospective agent) directed by 7 the principal to sign the principal’s name on the power of 8 attorney. A power of attorney must be acknowledged before a 9 notary public or other individual authorized by law to take 10 acknowledgments. An agent named in the power of attorney 11 cannot notarize the principal’s signature. An acknowledged 12 signature on a power of attorney is presumed to be genuine. 13 VALIDITY. A power of attorney is governed by the law of the 14 jurisdiction indicated in the power of attorney when properly 15 executed. The bill does not affect the validity of the 16 following powers of attorney properly executed in Iowa prior to 17 July 1, 2014: a power of attorney properly executed in Iowa, a 18 power of attorney properly created under the laws of another 19 jurisdiction, and a military power of attorney. The bill also 20 allows the use of a photocopy or electronically transmitted 21 original. 22 MEANING AND EFFECT. The meaning and effect of a power of 23 attorney is determined by the law of the jurisdiction indicated 24 in the power of attorney and if there is no such indication, 25 by the law of the jurisdiction where the power of attorney was 26 executed. 27 CONSERVATOR AND GUARDIAN APPOINTMENTS IN A POWER OF 28 ATTORNEY. A principal can appoint a conservator or guardian in 29 the power of attorney and specify that an agent’s authority to 30 act under the power of attorney is suspended during the time a 31 conservator is acting unless provided otherwise in the power of 32 attorney or by the court appointing the conservator. The bill 33 also allows for the appointment of a conservator or guardian on 34 a standby basis pursuant to Code sections 633.560 and 633.591. 35 -45- LSB 5082YC (4) 85 rh/rj 45/ 49

H.F. _____ WHEN EFFECTIVE. The bill provides specific rules as when 1 a power of attorney is effective and provides that unless 2 otherwise provided, the power of attorney is effective when 3 executed. 4 TERMINATION. A power of attorney terminates upon the 5 death or incapacity (if not durable) of the principal, upon 6 revocation by the principal, when the power of attorney 7 specifies a termination date, when the purpose of the power 8 of attorney is accomplished, or if the agent dies, becomes 9 incapacitated, or resigns without a named successor. A general 10 or plenary power of attorney (authorizing the agent to conduct 11 all of the principal’s personal business and financial affairs) 12 revokes a general or plenary power of attorney previously 13 executed in Iowa but does not revoke a power of attorney 14 limited to a specific purpose if that purpose is still capable 15 of being fully accomplished by the agent. 16 COAGENTS AND SUCCESSOR AGENTS. The bill provides that a 17 principal may designate two or more persons to act as coagents 18 and specifies certain standards for the actions of coagents. A 19 principal may designate one or more successor agents to act if 20 an agent resigns, dies, becomes incapacitated, is not qualified 21 to serve, or declines to serve. 22 REIMBURSEMENT AND COMPENSATION. Unless provided otherwise 23 in the power of attorney, an agent who is an individual is 24 entitled to reimbursement for expenses incurred on behalf of 25 the principal, but not to compensation. An agent that is a 26 bank or trust company authorized to administer trusts in Iowa 27 may receive compensation if reasonable under the circumstances. 28 AGENT’S ACCEPTANCE. Unless otherwise provided in the 29 power of attorney, a person accepts appointment as an agent 30 by exercising authority, performing duties, or by any other 31 assertion or conduct indicating acceptance. 32 AGENT’S DUTIES. The bill specifies the fiduciary duties 33 an agent owes a principal under a power of attorney and 34 provides that an agent that acts in good faith and with care, 35 -46- LSB 5082YC (4) 85 rh/rj 46/ 49

H.F. _____ competence, and diligence in the best interest of the principal 1 shall not be liable for the agent’s actions in certain 2 situations. 3 EXONERATION OF AGENT. The bill provides that a provision 4 in a power of attorney that relieves an agent of liability for 5 breach of duty is binding on the principal except for breaches 6 committed in bad faith, with an improper motive, or with 7 reckless indifference to the purposes of the power of attorney 8 or the best interest of the principal or if the provision was 9 put into the power of attorney as a result of an abuse of a 10 confidential or fiduciary relationship with the principal. 11 JUDICIAL RELIEF. The bill provides that certain persons 12 may petition a court to construe a power of attorney or review 13 an agent’s conduct and the court may award reasonable attorney 14 fees and costs to the prevailing party in a proceeding under 15 the bill. 16 AGENT’S LIABILITY. An agent that violates the Code chapter 17 is liable to the principal or the principal’s successors in 18 interest for the amount required to restore the value of 19 the principal’s property to what it would have been had the 20 violation not occurred and to reimburse the principal or the 21 principal’s successors in interest for the attorney fees and 22 costs paid on the agent’s behalf. 23 AGENT RESIGNATION. Unless otherwise provided in the 24 power of attorney, an agent may resign by giving notice to 25 the principal and if the principal is incapacitated, to a 26 conservator or guardian, principal’s caregiver or other person 27 with sufficient interest in the welfare of the principal, or to 28 the appropriate governmental agency. 29 ACCEPTANCE AND RELIANCE UPON ACKNOWLEDGED POWER OF ATTORNEY. 30 The bill protects persons who in good faith accept and rely on 31 an acknowledged power of attorney. 32 LIABILITY FOR REFUSAL TO ACCEPT ACKNOWLEDGED POWER OF 33 ATTORNEY. The bill specifies situations where refusals of a 34 power of attorney are acceptable and unacceptable. A person 35 -47- LSB 5082YC (4) 85 rh/rj 47/ 49

H.F. _____ that refuses to accept an acknowledged power of attorney in 1 violation of the bill is subject to a court order mandating 2 acceptance of the power of attorney and is liable for damages 3 sustained by the principal and reasonable attorney fees and 4 costs. Such an action must be brought within one year of the 5 initial request for acceptance of the power of attorney. 6 OTHER PROVISIONS. The bill includes provisions relating to 7 the application of principles of law and equity and the laws of 8 financial institutions, and remedies under other law. 9 AUTHORITY PROVISIONS. The bill distinguishes between grants 10 of specific authority requiring express language in a power of 11 attorney and grants of general authority. 12 SPECIFIC GRANT OF AUTHORITY. Specific grants of authority 13 require specific language granting certain powers to the agent 14 including powers to create, amend, revoke, or terminate an 15 inter vivos trust; make a gift; create or change rights of 16 survivorship; create or change a beneficiary designation; 17 delegate authority granted under the power of attorney; 18 waive the principal’s right to be a beneficiary of a joint 19 and survivor annuity, including a survivor benefit under a 20 retirement plan; exercise fiduciary powers that the principal 21 has the authority to delegate; and disclaim property, including 22 a power of appointment. 23 GENERAL GRANT OF AUTHORITY. If a power of attorney grants an 24 agent authority to do all acts that a principal could do, the 25 agent has general authority to act on behalf of the principal 26 with respect to the following subject areas: real property; 27 tangible personal property; stocks and bonds; commodities and 28 options; banks and other financial institutions; the operation 29 of an entity or business; insurance and annuities; estates, 30 trusts, and other beneficial interests; claims and litigation; 31 personal and family maintenance; benefits from governmental 32 programs or civil or military service; retirement plans; taxes; 33 and gifts. The bill contains specific provisions relating to 34 the authority granted to an agent in each of the abovementioned 35 -48- LSB 5082YC (4) 85 rh/rj 48/ 49

H.F. _____ subject areas. 1 CONSTRUCTION OF AUTHORITY. The bill specifies incidental 2 types of authority that accompany all authority (specific and 3 general) granted to an agent under a power of attorney, unless 4 modified in the power of attorney. Such authority includes the 5 power to demand, receive, and obtain other items of value to 6 which a principal is or may be entitled; contract on behalf 7 of a principal; execute, acknowledge, seal, deliver, file, 8 or record any instrument or communication necessary for a 9 transaction; initiate, participate in, submit to alternative 10 dispute resolution, and settle or accept a claim involving 11 the principal or intervene in litigation involving the claim; 12 seek court or other assistance to carry out an act authorized 13 under the power of attorney; engage, compensate, and discharge 14 certain professional advisors; prepare, execute, and file 15 certain documents to safeguard the principal’s interests; 16 communicate with government agencies; and access certain 17 communications including electronic communications intended for 18 the principal. 19 STATUTORY FORMS. The bill includes suggested statutory 20 forms for the creation of a power of attorney and for agent 21 certification of facts relating to a power of attorney 22 consistent with the provisions of the Code chapter. 23 MISCELLANEOUS PROVISIONS. The bill provides provisions 24 relating to uniform application and construction, the 25 applicability of the federal Electronic Signatures in Global 26 and National Commerce Act, and the effect of the bill on 27 existing powers of attorney. 28 REPEAL. The bill repeals current Code chapter 633B and makes 29 conforming Code changes. 30 -49- LSB 5082YC (4) 85 rh/rj 49/ 49