Ohio Code 1337.38 – Agent’s resignation; notice
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Unless the power of attorney provides 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 whichever of the following applies:
Terms Used In Ohio Code 1337.38
- Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
- 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: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- 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
(A) The guardian, if one has been appointed for the principal, and any coagent or successor agent;
(B) If there is no person described in division (A) of this section, to any of the following:
(1) The principal’s caregiver;
(2) Another person reasonably believed by the agent to have sufficient interest in the principal’s welfare;
(3) A governmental agency having authority to protect the welfare of the principal.