Okla. Stat. tit. 58, § 58-3011
This is the official text of Okla. Stat. tit. 58, § 58-3011, part of Oklahoma’s Stat. tit. 58, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 58,." Browse the sections below, each linked to its official government source.
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Coagents and successor agents
Official statutory text
A. A principal may designate two or more persons to act as
coagents. Unless the power of attorney otherwise provides, each
coagent may exercise its authority independently.
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.
Oklahoma Statutes - Title 58. Probate Procedure Page 167
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. 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.
coagents. Unless the power of attorney otherwise provides, each
coagent may exercise its authority independently.
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.
Oklahoma Statutes - Title 58. Probate Procedure Page 167
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. 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.
Status: in_force · Read it on the official government site
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