FL S0362

Expands qualifications for power of attorney agents to include not-for-profit corporations organized for charitable or religious purposes in Florida that were court-appointed guardians before January 1, 1996, and hold 501(c)(3) tax-exempt status.

Requires not-for-profit corporations acting as agents to post a blanket fiduciary bond of at least $250,000 with the circuit court clerk in their primary county, with proof provided to additional counties where they serve as agents.

Allows not-for-profit corporations to maintain liability insurance covering up to $250,000 in losses per principal caused by errors, omissions, or intentional misconduct as an alternative to posting a fiduciary bond.

Permits not-for-profit corporations to decline bonding and insurance if the principal signs a separate written instrument in 14-point uppercase type acknowledging that officers decline joint liability and that corporation assets may be insufficient to cover losses.

Makes each officer of a not-for-profit corporation jointly and severally liable with the corporation for acts and omissions when no fiduciary bond, liability insurance, or signed acknowledgement is in place.