HB26 - Alabama Uniform Power of Attorney Act

• Enacts the Alabama Uniform Power of Attorney Act, establishing comprehensive framework for powers of attorney executed on or after January 1, 2012, covering definitions, execution requirements, agent duties, and authority limitations.

• Creates specific rules for agent conduct including fiduciary duties, loyalty requirements, record-keeping obligations, and limits on self-dealing, with liability provisions for breach of duty and restoration of principal's property values.

• Defines scope of agent authority over various property types and financial matters (real property, stocks, banking, insurance, trusts, taxes, retirement plans, gifts) with requirements for specific written grants for certain sensitive acts like creating trusts or changing beneficiary designations.

• Provides standard power of attorney form and agent certification form for Alabama use, establishing presumption that notarized signatures are genuine and protecting third parties who rely on acknowledged powers of attorney without actual knowledge of termination.

• Governs health care powers of attorney executed after January 1, 2012, authorizing agents to make medical decisions including life-sustaining treatment decisions when specifically authorized, with safeguards against abuse and protection for health care providers acting in good faith.