Loading chat...
FL S0832
Bill
Status
2/12/2013
Primary Sponsor
Arthenia Joyner
Click for details
AI Summary
-
Adds definitions for "broker-dealer" and "another state" to the power of attorney statutes and revises the definition of "sign" to include execution by signature or mark.
-
Allows a notary public to sign a principal's name to a power of attorney or enumerated authorities if the principal is physically unable to sign, with specific procedural requirements including witness attestation.
-
Expands exceptions to when the power of attorney statutes apply, excluding powers given to transfer agents, financial institutions or broker-dealers acting in regular business, and trustee delegations under statute.
-
Requires third persons who reject a power of attorney to provide written reasons for rejection (except in specific circumstances), presumes four days is a reasonable acceptance period for financial institutions and broker-dealers, and allows original powers of attorney to be recorded in official records for a fee.
-
Clarifies that broker-dealers have no duty to inquire into agent actions and are not liable for relying in good faith on agent conduct, and grants general authority over securities held by broker-dealers when the power specifically references investment transaction authority.
Legislative Description
Powers of Attorney
Last Action
Laid on Table, companion bill(s) passed, see CS/HB 841 (Ch. 2013-90)
4/24/2013