Nebraska § 30-4011 Coagents and successor agents

Nebraska Statutes

§ 30-4011 — Coagents and successor agents

Nebraska·Ch. 30 Decedents' Estates; Protection of Persons and Property

(1)A principal may designate two or more persons to act as coagents. Unless the power of attorney otherwise provides, each coagent may exercise its authority independently.

(2)A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve, or declines to serve. A principal may grant authority to designate one or more successor agents to an agent or other person designated by name, office, or function. Unless the power of attorney otherwise provides, a successor agent:

(a)Has the same authority as that granted to the original agent; and

(b)May not act until all predecessor agents have resigned, died, become incapacitated, are no longer qualified to serve, or have declined to serve.

(3)Except as otherwise provide

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(1) A principal may designate
two or more persons to act as coagents. Unless the power of attorney otherwise
provides, each coagent may exercise its authority independently.
(2) A principal may designate
one or more successor agents to act if an agent resigns, dies, becomes incapacitated,
is not qualified to serve, or declines to serve. A principal may grant authority
to designate one or more successor agents to an agent or other person designated
by name, office, or function. Unless the power of attorney otherwise provides,
a successor agent:
(a)
Has the same authority as that granted to the original agent; and
(b) May not act until
all predecessor agents have resigned, died, become incapacitated, are no longer
qualified to serve, or have declined to serve.
(3) Except as otherwise provided
in the power of attorney and subsection (4) of this section, an agent that
does not participate in or conceal a breach of fiduciary duty committed by
another agent, including a predecessor agent, is not liable for the actions
of the other agent.
(4)
An agent that has actual knowledge of a breach or imminent breach of fiduciary
duty by another agent shall notify the principal and, if the principal is
incapacitated, take any action reasonably appropriate in the circumstances
to safeguard the principal's best interest. An agent that fails to notify
the principal or take action as required by this subsection is liable for
the reasonably foreseeable damages that could have been avoided if the agent
had notified the principal or taken such action.