Kentucky Statutes 457.170 – Agent’s liability
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An agent that violates this chapter is liable to the principal or the principal’s successors in interest for the amount required to:
(1) Restore the value of the principal’s property to what it would have been had the violation not occurred; and
(2) Reimburse the principal or the principal’s successors in interest for the attorney‘s fees and costs paid on the agent’s behalf.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 185, sec. 17, effective July 14, 2018.
(1) Restore the value of the principal’s property to what it would have been had the violation not occurred; and
Terms Used In Kentucky Statutes 457.170
- Agent: means a person granted authority to act for a principal under a power of attorney, whether denominated an agent, attorney-in-fact, or otherwise. See Kentucky Statutes 457.020
- Attorney: means attorney-at-law. See Kentucky Statutes 446.010
- Principal: means an individual who grants authority to an agent in a power of attorney. See Kentucky Statutes 457.020
- Property: means anything that may be the subject of ownership, whether real or personal, or legal or equitable, or any interest or right therein. See Kentucky Statutes 457.020
(2) Reimburse the principal or the principal’s successors in interest for the attorney‘s fees and costs paid on the agent’s behalf.
Effective: July 14, 2018
History: Created 2018 Ky. Acts ch. 185, sec. 17, effective July 14, 2018.