HB 1411

Abstract

Fiduciaries; good faith reliance on certificate of qualification. Provides that any individual or entity conducting business in good faith with a personal representative who presents a currently effective certificate of qualification may presume that the personal representative is properly authorized to act as to any matter or transaction. The bill further provides that if such individual or entity refuses to accept a certificate of qualification for a personal representative or a guardian or conservator who has been appointed for an incapacitated person, such individual or entity is subject to (i) a court order mandating acceptance of the certificate of qualification and (ii) liability for reasonable attorney fees and costs incurred in any action or proceeding that confirms the validity of the certificate of qualification or mandates acceptance of the certificate of qualification. The bill further provides that any individual or entity shall either accept or reject a certificate of qualification of such personal representative or such guardian or conservator no later than seven business days after presentation of such certificate. The bill specifies certain circumstances under which an individual or entity is not required to accept such a certificate for a transaction.

Fiduciaries; good faith reliance on certificate of qualification. Provides that any individual or entity conducting business in good faith with a personal representative who presents a currently effective certificate of qualification may presume that the personal representative is properly authorized to act as to any matter or transaction. The bill further provides that if such individual or entity refuses to accept a certificate of qualification for a personal representative or a guardian or conservator who has been appointed for an incapacitated person, such individual or entity is subject to (i) a court order mandating acceptance of the certificate of qualification and (ii) liability for reasonable attorney fees and costs incurred in any action or proceeding that confirms the validity of the certificate of qualification or mandates acceptance of the certificate of qualification. The bill further provides that any individual or entity shall either accept or reject a certificate of qualification of such personal representative or such guardian or conservator no later than seven business days after presentation of such certificate. The bill specifies certain circumstances under which an individual or entity is not required to accept such a certificate for a transaction.

Fiduciaries; good faith reliance on certificateof qualification. Provides that any individual or entity conductingbusiness in good faith with a personal representative who presentsa currently effective certificate of qualification may presume thatthe personal representative is properly authorized to act as to anymatter or transaction. The bill further provides that if such individualor entity refuses to accept a certificate of qualification for apersonal representative or a conservator who has been appointed foran incapacitated person, such individual or entity is subject to (i) a court order mandating acceptance of the certificate of qualificationand (ii) liability for reasonable attorney fees and costs incurredin any action or proceeding that confirms the validity of the certificateof qualification or mandates acceptance of the certificate of qualification.