CS/HB 23 - Powers of Attorney Summary

• Amends Florida law to allow qualified not-for-profit corporations to act as agents under powers of attorney, in addition to natural persons and financial institutions.

• Requires qualifying not-for-profit corporations to be organized for charitable or religious purposes, in existence for at least 30 years, tax-exempt under federal law, provide services without charging fees (though may reimburse expenses), and serve only residents of senior housing communities or former residents of such communities.

• Mandates principals sign a separate written disclosure in 14-point uppercase type acknowledging the agent is a non-profit corporation staffed by unpaid volunteers without state licensure and that the corporation's assets may be insufficient to cover liability for errors or misconduct.

• Prohibits persons with felony convictions, disqualifying criminal histories, recent bankruptcy, conflicting professional relationships, or conflicting employment from acting as agents; requires criminal and credit background checks every 2 years at corporation or personal expense, never at principal's cost.

• Establishes fiduciary responsibility for individuals acting on behalf of the not-for-profit corporation as agents and subjects them to penalties under section 825.103; effective July 1, 2016.