§ 3011. Coagents and successor agents
Oklahoma Statutes AnnotatedTitle 58. Probate ProcedureEffective: November 1, 2021
Effective: November 1, 2021
58 Okl.St.Ann. § 3011
§ 3011. Coagents and successor agents
B. A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve or declines to serve. A principal may grant authority to designate one or more successor agents to an agent or other person designated by name, office or function. Unless the power of attorney otherwise provides, a successor agent:
D. An agent that has actual knowledge of a breach or imminent breach of fiduciary duty by another agent shall notify the principal and, if the principal is incapacitated, take any action reasonably appropriate in the circumstances to safeguard the principal's best interest. An agent that fails to notify the principal or take action as required by this subsection is liable for the reasonably foreseeable damages that could have been avoided if the agent had notified the principal or taken such action.
Credits
Laws 2021, c. 332, § 11, eff. Nov. 1, 2021.
58 Okl. St. Ann. § 3011, OK ST T. 58 § 3011
Current with emergency effective legislation through Chapter 29 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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