Loading chat...

FL S0832

Bill

Status

Introduced

2/12/2013

Primary Sponsor

Arthenia Joyner

Click for details

Origin

Senate

2013 Regular Session

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

Committee Referrals

Rules3/21/2013
Governmental Oversight and Accountability3/7/2013
Judiciary2/19/2013

Full Bill Text

No bill text available