79429464.2-1612Virginia Decodedhttps://vacode.org2016Wills, Trusts, And FiduciariesFiduciaries And GuardiansPowers Of Attorney.Uniform Power Of Attorney ActGeneral Provisions.2010, cc. 455, 632, § 26-85; 2012, c. 614.http://law.lis.virginia.gov/vacode/64.2-1612/64.2-1614Judicial relief/64.2-1614/64.2-780Definition of terms/64.2-780//64.2-1612/64.2/IV/B/16/1/64.2-161264.2-751Notwithstanding provisions in the power of attorney, an agent that has accepted appointment shall:sectionAA1 Act in good faith; andsectionA2A22 Act only within the scope of authority granted in the power of attorney.sectionA3A32Except as otherwise provided in the power of attorney, an agent that has accepted appointment shall:sectionBB1 Act with the care, competence, and diligence ordinarily exercised by agents in similar circumstances;sectionB3B32 Keep a record of all receipts, disbursements, and transactions made on behalf of the principal;sectionB4B42 Minimization of taxes, including income, estate, inheritance, generation-skipping transfer, and gift taxes; andsectionB6cB6c3 Eligibility for a benefit, a program, or assistance under a statute or regulation.sectionB6dB6d3An agent that acts with care, competence, and diligence for the best interest of the principal is not liable solely because the agent also benefits from the act or has an individual or conflicting interest in relation to the property or affairs of the principal.sectionDD1An agent that exercises authority to delegate to another person the authority granted by the principal or that engages another person on behalf of the principal is not liable for an act, error of judgment, or default of that person if the agent exercises care, competence, and diligence in selecting and monitoring the person; however, nothing herein is intended to abrogate any duty of the agent under the Uniform Prudent Investor Act (§ 64.2-780 et seq.).sectionGG1Except as otherwise provided in the power of attorney, an agent shall, on reasonable request made by a person listed in subdivisions A 3 through A 9 of § 64.2-1614 who has a good faith belief that the principal suffers an incapacity or, if deceased, suffered incapacity at the time the agent acted, disclose to such person the extent to which he has chosen to act and the actions taken on behalf of the principal within the five years prior to either (i) the date of the request or (ii) the date of the death of the principal, if the principal is deceased at the time such request is made, and shall permit reasonable inspection of records pertaining to such actions by such person. In all cases where the principal is deceased at the time such request is made, such request shall be made within one year after the date of the death of the principal. If so requested, within 30 days the agent shall comply with the request or provide a writing or other record substantiating why additional time is needed and shall comply with the request within an additional 30 days.sectionII1