§ 30-4015 — Exoneration of agent

(1) A provision in a
power of attorney relieving an agent of liability for breach of duty is binding
on the principal and the principal's successors in interest except to the
extent the provision:
(a) Relieves the agent
of liability for breach of duty committed dishonestly, with an improper motive,
or with reckless indifference to the purposes of the power of attorney or
the best interest of the principal; or
(b) Was inserted as a result of an abuse of a confidential
or fiduciary relationship with the principal.
(2) An exculpatory term drafted
or caused to be drafted by an agent is invalid as an abuse of fiduciary or
confidential relationship unless the agent proves that the exculpatory term
is fair under the circumstances and that its existence and contents were adequately
communicated to the principal.

Legislative History

Source: Laws 2012, LB1113, § 15. Annotations: An exoneration clause in a power of attorney will not relieve an agent of liability where the agent's attorney drafted the document and the agent did not prove that the clause was fair and adequately communicated to the principal. In re Estate of Adelung, 306 Neb. 646, 947 N.W.2d 269 (2020).