Title 10 — Commerce and Trade
0 chapters · 906 sections in this title.
O.C.G.A. § 10-6B-1 Short title
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This chapter shall be known and may be cited as the “Georgia Power of Attorney Act.” History. Code 1981, § 10-6B-1, enacted by Ga. L. 2017, p. 435, § 2-1/HB 221; Ga. L. 2018, p. 520, § 1/HB 897.
O.C.G.A. § 10-6B-10 DISGORGEMENT
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Commodities and commodity contracts and options. Actions by commissioner, §§10-5A-21, 10-5A-22. Commodities violation, §§10-5A-21, 10-5A-22. DISHONOR AND NOTICE OF DISHONOR. Checks. Retail installment contracts for revolving account. Fees for check dishonor, §10-1-7. Self-service…
O.C.G.A. § 10-6B-11 Designation of coagents; role of successor agent; notification of violation
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(a) A principal may designate two or more persons to act as coagents. Unless the power of attorney otherwise provides, coagents shall exercise their authority independently. (b)(1) A principal may designate one or more successor agents to act if an agent resigns, dies, becomes in…
O.C.G.A. § 10-6B-12 Compensation
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Unless the power of attorney otherwise provides, an agent shall not be entitled to compensation for services rendered. An agent shall be entitled to reasonable reimbursement of expenses incurred in performing the acts required by the principal under the power of attorney. History…
O.C.G.A. § 10-6B-13 Agent’s acceptance of appointment
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Except as otherwise provided in the power of attorney, a person accepts appointment as an agent under a power of attorney by exercising authority or performing duties as an agent or by any other assertion or conduct indicating acceptance. History. Code 1981, § 10-6B-13, enacted b…
O.C.G.A. § 10-6B-14 Duties of agents
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(a) Notwithstanding provisions in the power of attorney, an agent that has accepted: (1) Appointment shall act in accordance with the principal’s reasonable expectations to the extent actually known by the agent and, otherwise, in the principal’s best interest; (2) Appointment sh…
O.C.G.A. § 10-6B-15 Waivers of agent liability
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A provision in a power of attorney relieving an agent of liability for breach of duty shall be binding on the principal and the principal’s successors in interest except to the extent the provision: (1) Relieves the agent of liability for breach of duty committed in bad faith, or…
O.C.G.A. § 10-6B-16 HISTORICAL RECORDS
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Property on loan to museums and archives repositories. Georgia museums property act, §§10-1-529.1 to 10-1-529.7. HISTORIC PRESERVATION. Property on loaned to museums and archives repositories. Georgia museum property act, §§10-1-529.1 to 10-1-529.7. HOLIDAYS AND OBSERVANCES. Dece…
O.C.G.A. § 10-6B-17 Agent’s liability to principal
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An agent that violates this chapter shall be liable to the principal or the principal’s successors in interest for the amount required to: (1) Restore the value of the principal’s property to what it would have been had the violation not occurred; and (2) Reimburse the principal …
O.C.G.A. § 10-6B-18 Resignation of agent
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Unless the power of attorney provides a different method for an agent’s resignation, an agent may resign by giving notice to the principal and, if the principal is incapacitated: (1) To the conservator or guardian, if one has been appointed for the principal, and a coagent or suc…
O.C.G.A. § 10-6B-19 Requirements for power, §10-6B-5
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Resignation of agent. Notice, §10-6B-18. Revocation of power. Termination of power and agent’s authority, §10-6B-10. Saving clause. Continued applicability of prior provisions for existing powers, §10-6B-6. 1543 INDEX POWERS OF ATTORNEY —Cont’d Seamen. Effect of death on power by…
O.C.G.A. § 10-6B-2 Definitions
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As used in this chapter, the term: (1) “Agent” means a person granted authority to act in the place of an individual, whether denominated by such term, attorney-in-fact, or otherwise. Such term shall include a coagent, successor agent, and a person to which authority is delegated…
O.C.G.A. § 10-6B-20 Liability for refusal to accept power of attorney
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(a) As used in this Code section, the term: (1) “Attested statutory form power of attorney” means a statutory form power of attorney that was purportedly attested as set forth in Code Section 44-2-15. (2) “Statutory form power of attorney” means a power of attorney: (A) Substanti…
O.C.G.A. § 10-6B-21 Statutory form power of attorney
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Acceptance of statutory form power, §10-6B-20. POWERS OF ATTORNEY —Cont’d Statutory form power of attorney —Cont’d Certification of facts concerning power. Optional form, §10-6B-71. Contents of form, §10-6B-70. Defined, §10-6B-20. Effect, §10-6B-70. Refusal to accept. Unauthorized …
O.C.G.A. § 10-6B-22 Laws applicable to financial institutions and entities
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(a) This chapter shall not supersede any other law applicable to financial institutions or other entities, and the other law controls if inconsistent with this chapter. (b) This chapter shall not supersede the Bank Secrecy Act of 1970, 31 U.S.C. Section 5311, in effect on February…
O.C.G.A. § 10-6B-23 Rights and remedies under other law
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The remedies under this chapter shall not be exclusive and shall not abrogate any right or remedy under the laws of this state other than this chapter. History. Code 1981, § 10-6B-23, enacted by Ga. L. 2017, p. 435, § 2-1/HB 221. ARTICLE 2 AUTHORITY OF AGENT
O.C.G.A. § 10-6B-3 Applicability
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This chapter shall apply to all powers of attorney except: (1) A power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a creditor in connection with a credit transaction; (2) A power to make health care dec…
O.C.G.A. § 10-6B-4 Power of attorney is durable
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A power of attorney created under this chapter shall be durable unless it expressly provides that it is terminated by the incapacity of the principal. History. Code 1981, § 10-6B-4, enacted by Ga. L. 2017, p. 435, § 2-1/HB 221. 10-6B-5. Execution of power of attorney.
O.C.G.A. § 10-6B-40 Fiduciary duty, breach
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Actual knowledge. Duty of agent, §10-6B-11. General authority. References to general authority. Effect, §10-6B-41. POWERS OF ATTORNEY —Cont’d Agents —Cont’d Inapplicability of agency provisions to powers of attorney provisions, §§10-6-7, 10-6B-81. Incapacity of agent, resumption …
O.C.G.A. § 10-6B-41 References to general authority in powers of attorney; modifications
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(a) An agent shall have authority described in this article if the power of attorney refers to general authority with respect to the descriptive term for the subjects stated in Code Sections 10-6B-43 through 10-6B-56 or cites the Code section in which the authority is described. …
O.C.G.A. § 10-6B-42 Construction of authority of agent generally
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Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in Code Sections 10-6B-43 through 10-6B-56 or that grants to an agent authority to do all acts that a principal could do pursuant to subsecti…
O.C.G.A. § 10-6B-43 Real property
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Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to real property shall authorize the agent to: (1) Demand, buy, lease, receive, accept as a gift or as security for an extension of credit, or otherwise acquir…
O.C.G.A. § 10-6B-44 Tangible personal property
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Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property shall authorize the agent to: (1) Demand, buy, receive, accept as a gift or as security for an extension of credit, or otherwise …
O.C.G.A. § 10-6B-45 Securities
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Uniform securities act of 2008, §§10-5-1 to 10-5-90. STOLEN PROPERTY. Secondary metals recyclers. Hold on regulated metal property believed to be stolen, §10-1-356. Recovery. Actions, §10-1-357. Restitution, §10-1-357. STOP ORDERS. Securities. Coordination, registration by. Notic…
O.C.G.A. § 10-6B-46 Commodities and options
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Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to commodities and options shall authorize the agent to: 1097 10-6B-47 (1) Buy, sell, exchange, assign, settle, and exercise commodity futures contracts and ca…
O.C.G.A. § 10-6B-47 Banks and other financial institutions
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Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions shall authorize the agent to: (1) Continue, modify, and terminate an account or other banking arrangement made by or o…
O.C.G.A. § 10-6B-48 Operation of entity or business
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Subject to the terms of a document or an agreement governing an entity or an entity ownership interest, and unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to operation of an entity or business shall authori…
O.C.G.A. § 10-6B-49 Insurance and annuities
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Unless the power of attorney otherwise provides, language in a power 1100 10-6B-49 of attorney granting general authority with respect to insurance and annuities shall authorize the agent to: (1) Continue, pay the premium or make a contribution on, modify, exchange, rescind, rele…
O.C.G.A. § 10-6B-5 Execution of power of attorney
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(a) A power of attorney shall be: (1) Signed by the principal or by another individual in such principal’s presence at the principal’s express direction; (2) Attested in the presence of the principal by a competent witness who is not also named as an agent in the power of attorne…
O.C.G.A. § 10-6B-50 Estates, trusts, and other beneficial interests
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(a) As used in this Code section, the term “estate, trust, or other beneficial interest” means a trust, probate estate, guardianship, conservatorship, escrow, or custodianship or a fund from which the principal is, may become, or claims to be, entitled to a share or payment. (b) U…
O.C.G.A. § 10-6B-51 Claims and litigation
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Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to claims and litigation shall authorize the agent to: (1) Assert and maintain before a court or administrative agency a claim, claim for relief, cause of acti…
O.C.G.A. § 10-6B-52 Personal and family maintenance
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(a) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to personal and family maintenance shall authorize the agent to: (1) Perform the acts necessary to maintain the customary standard of living of the princip…
O.C.G.A. § 10-6B-53 Benefits from governmental programs or civil or military service
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(a) As used in this Code section, the term “benefits from governmental programs or civil or military service” means any benefit, program, or 1105 10-6B-54 assistance provided under a law or regulation, including Social Security, medicare, and Medicaid. (b) Unless the power of attor…
O.C.G.A. § 10-6B-54 Retirement plans
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(a) As used in this Code section, the term “retirement plan” means a plan or account created by an employer, the principal, or another individual to provide retirement benefits or deferred compensation of which such principal is a participant, beneficiary, or owner, including a pla…
O.C.G.A. § 10-6B-55 Taxes
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Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to taxes shall authorize the agent to: 1107 10-6B-56 (1) Prepare, sign, and file federal, state, local, and foreign income, gift, payroll, property, Federal Ins…
O.C.G.A. § 10-6B-56 Gifts
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(a) As used in this Code section, the term: (1) “For the benefit of” means a gift to a trust, an account under the Uniform Transfers to Minors Act, a tuition savings account or prepaid tuition plan as defined under Internal Revenue Code Section 529, 26 U.S.C. Section 529, in effect…
O.C.G.A. § 10-6B-6 Validity of power of attorney; effect of copy
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(a) A power of attorney executed in this state on or after July 1, 2017, shall be valid if its execution complies with Code Section 10-6B-5. (b) A power of attorney executed other than in this state shall be 1077 10-6B-8 valid in this state if, when the power of attorney was exec…
O.C.G.A. § 10-6B-7 Controlling law
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The meaning and effect of a power of attorney shall be determined by the law of the jurisdiction indicated in the power of attorney and, in the absence of an indication of jurisdiction, by the law of the jurisdiction in which the power of attorney was executed. History. Code 1981…
O.C.G.A. § 10-6B-70 Form power of attorney
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A document substantially in the following form may be used to create a statutory form power of attorney that has the meaning and effect prescribed by this chapter. 1109 10-6B-70 State of Georgia County of STATUTORY FORM POWER OF ATTORNEY IMPORTANT INFORMATION This power of attorn…
O.C.G.A. § 10-6B-71 Optional form for agent certification of facts
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The following optional form may be used by an agent to certify facts concerning a power of attorney. ‘‘AGENT’S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY AND AGENT’S AUTHORITY State of Georgia County of I, (name of agent), certify under penalty of perjury that (name of…
O.C.G.A. § 10-6B-8 Specification of authority of agents
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Trusts, estates or other beneficial interests, §10-6B-50. Signatures. Liability of persons signing instrument as fiduciary, §10-6-86. Unfair or deceptive trade practices. Fair business practices act of 1975, §10-1-397. CONSIDERATION.
O.C.G.A. § 10-6B-81 Application of Chapter 6B
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(a) Code Section 10-6B-19 shall apply retroactively to powers of attorney created before July 1, 2018. The remainder of this chapter shall not apply to a power of attorney executed before July 1, 2017. (b) When Code Section 10-6B-3 applies to a power of attorney, Chapter 6 of thi…
O.C.G.A. § 10-6B-9 When power of attorney effective
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(a) A power of attorney shall be effective when executed unless the principal provides in the power of attorney that it becomes effective at a future date or upon the occurrence of a future event or contingency. (b) If a power of attorney becomes effective upon the occurrence of …