71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
HA to HB 2365
 
LC 576/HB 2365-4
 
                       HOUSE AMENDMENTS TO
                         HOUSE BILL 2365
 
                    By COMMITTEE ON JUDICIARY
 
                            April 12
 
  On page 1 of the printed bill, delete lines 4 through 13 and
insert:
  '  { +  SECTION 1. + }  { + A person may not refuse to
recognize the authority of an attorney-in-fact or agent under a
power of attorney based solely on the passage of time since the
power of attorney was executed. + }
  '  { +  SECTION 2. + }  { + Any person who reasonably relies in
good faith on the authority of an attorney-in-fact or agent under
a power of attorney is not liable to any other person based on
that reliance, and is not required to ensure that assets of the
principal that are paid or delivered to the attorney-in-fact or
agent are properly applied. Any person who has not received
actual notice of revocation of a power of attorney is not liable
to any other person by reason of relying on a power of attorney
that has been revoked. + }
  '  { +  SECTION 3. + }  { + Unless otherwise provided in the
power of attorney document, an attorney-in-fact or agent must use
the property of the principal for the benefit of the
principal. + } ' .
  In line 14, delete '2' and insert '4'.
  On page 2, delete line 5 and insert:
  '  { +  SECTION 5. + } Sections 1 to 3 of this 2001 Act and the
amendments to ORS 127.005 by section 4'.
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