71st OREGON LEGISLATIVE ASSEMBLY--2001 Regular Session
 
 
                            Enrolled
 
                         House Bill 2365
 
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
  Presession filed (at the request of Joint Interim Judiciary
  Committee for the Elder Law section of the Oregon State Bar)
 
 
                     CHAPTER ................
 
 
                             AN ACT
 
 
Relating to durable power of attorneys; creating new provisions;
  and amending ORS 127.005.
 
Be It Enacted by the People of the State of Oregon:
 
  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that has been revoked.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. + }
  SECTION 4. ORS 127.005 is amended to read:
  127.005. (1) When a principal designates another an
attorney-in-fact or agent by a power of attorney in writing and
the writing does not contain words   { - which - }   { + that + }
otherwise limit the period of time of its effectiveness
 { - , - }  { + :
  (a) The power of attorney shall remain in effect until the
power is revoked by the principal;
  (b) The powers of the attorney-in-fact or agent are unaffected
by the passage of time; and
  (c) + } The powers of the attorney-in-fact or agent shall be
exercisable by the attorney-in-fact or agent on behalf of the
principal notwithstanding the later disability or incompetence of
the principal at law.
  (2) All acts done by the attorney-in-fact or agent under the
power of attorney during any period of disability or incompetence
of the principal at law shall have the same effect and shall
inure to the benefit of and bind the principal as though the
principal were not disabled or incompetent.
  (3) If a conservator is appointed thereafter for the principal,
the attorney-in-fact or agent, during the continuation of that
 
 
Enrolled House Bill 2365 (HB 2365-A)                       Page 1
 
 
 
appointment, shall account to the conservator rather than to the
principal. The conservator has the same power that the principal
would have, but for the disability or incompetence of the
principal, to revoke, suspend or terminate all or any part of the
power of attorney or agency.
  (4) This section does not apply to powers of attorney for
health care executed under ORS 127.505 to 127.660 and 127.995.
  SECTION 5.  { + Sections 1 to 3 of this 2001 Act and the
amendments to ORS 127.005 by section 4 of this 2001 Act apply to
all powers of attorney, whether executed before, on or after the
effective date of this 2001 Act. + }
                         ----------
 
 
Passed by House April 18, 2001
 
 
      ...........................................................
                                             Chief Clerk of House
 
      ...........................................................
                                                 Speaker of House
 
Passed by Senate May 29, 2001
 
 
      ...........................................................
                                              President of Senate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enrolled House Bill 2365 (HB 2365-A)                       Page 2
 
 
 
 
 
Received by Governor:
 
......M.,............., 2001
 
Approved:
 
......M.,............., 2001
 
 
      ...........................................................
                                                         Governor
 
Filed in Office of Secretary of State:
 
......M.,............., 2001
 
 
      ...........................................................
                                               Secretary of State
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enrolled House Bill 2365 (HB 2365-A)                       Page 3