Section 633B.110. Termination — power of attorney or agent authority.

  1.  A power of attorney terminates when any of the following occurs:

  a.  The principal dies.

  b.  The principal becomes incapacitated, if the power of attorney is not durable.

  c.  The principal revokes the power of attorney.

  d.  The power of attorney provides that it terminates.

  e.  The purpose of the power of attorney is accomplished.

  f.  The principal revokes the agent’s authority or the agent dies, becomes incapacitated, or resigns, and the power of attorney does not provide for another agent to act under the power of attorney.

  2.  An agent’s authority terminates when any of the following occurs:

  a.  The principal revokes the authority.

  b.  The agent dies, becomes incapacitated, or resigns.

  c.  An action is filed for the dissolution or annulment of the agent’s marriage to the principal or for their legal separation, unless the power of attorney otherwise provides.

  d.  The power of attorney terminates.

  3.  Unless the power of attorney otherwise provides, an agent’s authority is exercisable until the agent’s authority terminates under subsection 2, notwithstanding a lapse of time since the execution of the power of attorney.

  4.  Termination of a power of attorney or an agent’s authority under this section is not effective as to the agent or another person that, without actual knowledge of the termination, acts in good faith under the power of attorney. An act so performed, unless otherwise invalid or unenforceable, binds the principal and the principal’s successors in interest.

  5.  Incapacity of the principal of a power of attorney that is not durable does not revoke or terminate the power of attorney as to an agent or other person that, without actual knowledge of the incapacity, acts in good faith under the power of attorney. An act so performed, unless otherwise invalid or unenforceable, binds the principal and the principal’s successors in interest.

  6.  Except as provided in section 633B.103, the execution of a general or plenary power of attorney revokes all general or plenary powers of attorney previously executed in this state by the principal, but does not revoke a power of attorney limited to a specific and identifiable action or transaction, which action or transaction is still capable of performance but has not yet been fully accomplished by the agent.

2014 Acts, ch 1078, §12