AK HB8

Establishes comprehensive statutory framework for powers of attorney in Alaska, including duties for agents to act in the principal's best interest, in good faith, and within the scope of authority granted.

Requires third parties to accept acknowledged powers of attorney within 5 business days or provide written reasons for delay; prohibits requiring alternative forms of power of attorney.

Defines "durable" powers of attorney as those not terminated by the principal's incapacity and establishes procedures for agents to resign, including notification requirements when the principal lacks capacity.

Creates new Chapter 28 recognizing substitute decision-making documents (powers of attorney and health care directives) executed in other states if they comply with that state's laws.

Effective January 1, 2017; applies to powers of attorney created on or after the effective date and judicial proceedings commenced after that date.