SB 293

Abstract

Guardianship and conservatorship; duties and powers of guardian and conservator; self-dealing prohibited. Provides that a guardian and conservator shall avoid all conflicts of interest and self-dealing, including all appearances of conflicts of interest and self-dealing, when addressing the needs of the incapacitated person to whom the guardian or conservator owes a fiduciary duty. The bill provides that a conflict of interest arises when the guardian or conservator has a personal or agency interest that can be perceived as self-serving or adverse to the position or best interest of the incapacitated person, and self-dealing arises when the guardian or conservator seeks to take advantage of his position as guardian or conservator and acts for his own interests rather than for the interests of the incapacitated person. The bill further provides that any sale or transaction that constitutes self-dealing shall be voidable by the court.

A BILL to amend and reenact §§ 64.2-2019 and 64.2-2021 of the Code of Virginia, relating to guardianship and conservatorship; duties and powers of guardian and conservator; self-dealing prohibited. 24104700D