Conn. Gen. Stat. § 1-350j
This is the official text of Conn. Gen. Stat. § 1-350j, part of Connecticut’s Gen. Stat — part of the compiled statutory law of Connecticut, published by the state as "Gen. Stat." Browse the sections below, each linked to its official government source.
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Sec. 1-350j. Coagents and successor agents.
Official statutory text
(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:
(1) Has the same authority as that granted to the original agent; and
(2) May not act until all predecessor agents have resigned, died, become incapacitated, are no longer qualified to serve or have declined to serve.
(c) Except as otherwise provided in the power of attorney and subsection (d) of this section, an agent that does not participate in or conceal a breach of fiduciary duty committed by another agent, including a predecessor agent, is not liable for the actions of the other agent.
(d) Except as otherwise provided in the power of attorney, 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, specifically with respect to the theft or misappropriation of the principal's property by another agent, is liable for the reasonably foreseeable damages that could have been avoided if the agent had notified the principal or taken such action relating to such theft or misappropriation.
(1) Has the same authority as that granted to the original agent; and
(2) May not act until all predecessor agents have resigned, died, become incapacitated, are no longer qualified to serve or have declined to serve.
(c) Except as otherwise provided in the power of attorney and subsection (d) of this section, an agent that does not participate in or conceal a breach of fiduciary duty committed by another agent, including a predecessor agent, is not liable for the actions of the other agent.
(d) Except as otherwise provided in the power of attorney, 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, specifically with respect to the theft or misappropriation of the principal's property by another agent, is liable for the reasonably foreseeable damages that could have been avoided if the agent had notified the principal or taken such action relating to such theft or misappropriation.
Status: in_force · Read it on the official government site
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