32C-1-115. Exoneration of agent.
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 relieves the agent of liability for breach of duty committed (i) in bad faith or (ii) with reckless indifference to the purposes of the power of attorney or the best interest of the principal. (2017-153, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 32C - North Carolina Uniform Power of Attorney Act
Article 1 - Definitions and General Provisions.
§ 32C-1-104 - Power of attorney; durability.
§ 32C-1-105 - Execution of power of attorney.
§ 32C-1-106 - Validity of power of attorney.
§ 32C-1-107 - Meaning and effect of power of attorney.
§ 32C-1-108 - Nomination of guardian; relation of agent to court-appointed fiduciary.
§ 32C-1-109 - When power of attorney effective.
§ 32C-1-110 - Termination of power of attorney.
§ 32C-1-111 - Coagents and successor agents.
§ 32C-1-112 - Reimbursement and compensation of agent.
§ 32C-1-113 - Agent's acceptance.
§ 32C-1-115 - Exoneration of agent.
§ 32C-1-116 - Judicial relief.
§ 32C-1-117 - Agent's liability.
§ 32C-1-118 - Agent's resignation; notice.
§ 32C-1-119 - Acceptance of and reliance upon power of attorney.
§ 32C-1-120 - Liability for refusal to accept acknowledged power of attorney.
§ 32C-1-121 - Principles of law and equity.
§ 32C-1-122 - Laws applicable to financial institutions and other entities.