Iowa Code 633B.118 – Agent’s resignation — notice
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Terms Used In Iowa Code 633B.118
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
633B.118 Agent’s resignation — notice.
Unless the power of attorney provides for a different method for an agent’s resignation, an agent may resign by giving notice to the principal and, if the principal is incapacitated, to any of the following:
1. The conservator or guardian, if a conservator or guardian has been appointed for the principal, and any coagent or successor agent.
2. If there is no conservator, guardian, or coagent or successor agent, the agent may give notice to any of the following:
a. The principal’s caregiver, including but not limited to a caretaker as defined in section
235B.2 or 235E.1.
b. Any other person reasonably believed by the agent to have sufficient interest in the principal’s welfare.
c. A governmental agency having regulatory authority to protect the welfare of the principal.
2014 Acts, ch 1078, §20
Unless the power of attorney provides for a different method for an agent’s resignation, an agent may resign by giving notice to the principal and, if the principal is incapacitated, to any of the following:
1. The conservator or guardian, if a conservator or guardian has been appointed for the principal, and any coagent or successor agent.
2. If there is no conservator, guardian, or coagent or successor agent, the agent may give notice to any of the following:
a. The principal’s caregiver, including but not limited to a caretaker as defined in section
235B.2 or 235E.1.
b. Any other person reasonably believed by the agent to have sufficient interest in the principal’s welfare.
c. A governmental agency having regulatory authority to protect the welfare of the principal.
2014 Acts, ch 1078, §20