26-91 - Liability for refusal to accept acknowledged power of attorney.
§ 26-91. Liability for refusal to accept acknowledged power of attorney.
A. Except as otherwise provided in subsection B:
1. A person shall either accept an acknowledged power of attorney or requesta certification, a translation, or an opinion of counsel under subsection Cof § 26-90 no later than seven business days after presentation of the powerof attorney for acceptance;
2. If a person requests a certification, a translation, or an opinion ofcounsel under subsection C of § 26-90, the person shall accept the power ofattorney no later than five business days after receipt of the certification,translation, or opinion of counsel; and
3. A person may not require an additional or different form of power ofattorney for authority granted in the power of attorney presented.
B. A person is not required to accept an acknowledged power of attorney for atransaction if:
1. The person is not otherwise required to engage in the transaction with theprincipal in the same circumstances, or the principal has otherwise relievedthe person from an obligation to engage in the transaction with an agentrepresenting the principal under a power of attorney;
2. Engaging in the transaction with the agent or the principal in the samecircumstances would be inconsistent with federal law;
3. The person has actual knowledge of the termination of the agent'sauthority or of the power of attorney before exercise of the power;
4. A request for a certification, a translation, or an opinion of counselunder subsection C of § 26-90 is refused;
5. The person in good faith believes that the power is not valid or that theagent does not have the authority to perform the act requested, whether ornot a certification, a translation, or an opinion of counsel under subsectionC of § 26-90 has been requested or provided; or
6. The person makes, or has actual knowledge that another person has made, areport to the local adult protective services department or adult protectiveservices hotline stating a good faith belief that the principal may besubject to physical or financial abuse, neglect, exploitation, or abandonmentby the agent or a person acting for or with the agent.
C. A person that refuses in violation of this section to accept anacknowledged power of attorney is subject to:
1. A court order mandating acceptance of the power of attorney; and
2. Liability for reasonable attorney fees and costs incurred in any action orproceeding that confirms the validity of the power of attorney or mandatesacceptance of the power of attorney.
D. For purposes of this section, "business day" shall refer to any dayother than Saturday, Sunday or any day designated as a holiday by theCommonwealth of Virginia or the federal government.
(2010, cc. 455, 632.)