Vermont Statutes Title 14 Sec. 4018
Terms Used In Vermont Statutes Title 14 Sec. 4018
- 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
- 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 an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; public corporation; government or governmental subdivision, agency, or instrumentality; or any other legal or commercial entity. See
- Principal: means an individual who grants authority to an agent in a power of attorney. See
§ 4018. Agent‘s resignation; notice
Unless the power of attorney provides a different method for an agent’s resignation, an agent may resign by giving written notice to the principal and, if the principal is incapacitated or unavailable:
(1) to the guardian, if one has been appointed for the principal, and a coagent or successor agent; or
(2) if there is no person described in subdivision (1) of this section, to:
(A) the principal’s caregiver;
(B) another person reasonably believed by the agent to have sufficient interest in the principal’s welfare; or
(C) a governmental agency having authority to protect the welfare of the principal. (Added 2023, No. 60, § 1, eff. July 1, 2023.)