§ 30-5-6-4.5 — Attorney in fact's authority to hire persons; cost incurred to defend actions of attorney in fact

Indiana § 30-5-6-4.5

• Jurisdiction: Indiana
• Art. 5: POWERS OF ATTORNEY
• Ch. 6: Duties of the Attorney in Fact

Text

5. (a) An attorney in fact has the authority to
employ persons, including:
(1) attorneys;
(2) accountants;
(3) investment advisers; and
(4) agents;
to assist the attorney in fact in the performance of the attorney in fact's
fiduciary duties. Any reasonable costs incurred with regard to services
rendered for the benefit of the principal shall be paid from the
principal's asset holdings.
(b) Except as provided in subsection (c), if an accounting is
requested as set forth in section 4 of this chapter, or a petition to settle
and allow an account is filed under section 4.1 of this chapter, costs
incurred by the attorney in fact:
(1) to defend the actions of the attorney in fact on behalf of the
principal with regard to the preparation of the accounting; and
(2) to defend any other actions of the attorney in fact on behalf of
the principal;
shall be paid from the principal's asset holdings.
(c) If a court determines that an attorney in fact:
(1) breached the attorney in fact's fiduciary duty or obligation to
the principal; or
(2) was engaged in self-dealing activities with the principal's asset
holdings;
the court may determine that the attorney in fact is responsible for the
payment of the costs incurred under subsection (b).

Legislative History

As added by P.L.165-2002, SEC.9. Amended by P.L.81-2015, SEC.23.