SB 2574 Summary

• Creates the Mississippi Uniform Power of Attorney Act effective July 1, 2016, establishing comprehensive rules for powers of attorney in Mississippi

• Makes powers of attorney durable by default (surviving principal's incapacity) unless expressly stated otherwise

• Requires notarization and establishes that persons accepting acknowledged powers of attorney are protected from liability unless they have actual knowledge the power is void, invalid, or terminated

• Specifies agent duties including acting in principal's best interest, maintaining records, and acting in good faith; allows exoneration only if not obtained through abuse or dishonest conduct

• Requires specific written authorization for sensitive actions such as making gifts, creating trusts, changing beneficiary designations, and delegating authority