§ 3506. No duty to exercise authority unless specifically provided
(a) Except for the duties imposed on agents by this subchapter and except as provided in subsections (b) and (c) of this section, an agent has no duty to exercise any authority granted in a power of attorney, regardless of whether the principal is disabled or incapacitated or otherwise unable to act.
(b) Acting for the principal in one or more transactions does not obligate an agent to act for the principal in a subsequent transaction, but the agent has a duty to the principal to complete any transaction the agent has commenced.
(c) If the power of attorney explicitly provides that the agent has a duty to act for the principal as to specified transactions or types of transactions and the agent has specifically acknowledged and accepted such duty to act in signing the power of attorney, the agreement to act on behalf of the principal is enforceable against the agent regardless of whether there is any consideration to support a contractual obligation. (Added 2001, No. 135 (Adj. Sess.), § 2, eff. June 13, 2002.)
Structure Vermont Statutes
Title 14 - Decedents' Estates and Fiduciary Relations
Chapter 123 - Powers of Attorney
§ 3502. Creation of a power of attorney
§ 3506. No duty to exercise authority unless specifically provided
§ 3507. Termination; revocation
§ 3508. Durable powers of attorney; when power of attorney not affected by disability
§ 3509. Effect of subsequent involuntary guardianship on power of attorney
§ 3510. Action for accounting; declaratory relief; termination of power of attorney
§ 3511. Remedies for violation by agent
§ 3512. Other common law and statutory remedies still available
§ 3513. Presumption of validity
§ 3515. Provisions of statute implied; may not be waived; severable
§ 3516. Effective date; effect on existing powers of attorney