1. (a) This section applies to a claim against an attorney in fact by:

   1. (1) the principal;
   2. (2) the principal's guardian;
   3. (3) the principal's personal representative; or
   4. (4) any person claiming through the principal following death.

2. (b) Except as provided in subsection (c), any claim against an attorney in fact that has not previously been barred by adjudication under section 4.1 of this chapter, by consent or by limitation, is barred against any person described in subsection (a) who:

   1. (1) receives an accounting of all transactions entered into by the attorney in fact:

      1. (A) personally, if the person is an adult; or
      2. (B) through receipt by a parent or guardian, if the person is a minor or person with a disability; and

   2. (2) does not commence a proceeding under IC 30-5-9-11 not later than two (2) years after receiving the accounting;

      as to the matters disclosed in the accounting.

3. (c) The rights to recover from an attorney in fact for fraud, misrepresentation, or inadequate disclosure related to a power of attorney accounting are not barred under this section.

As added by P.L.81-2015, SEC.22.