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:

1. 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
2. B. was inserted as a result of an abuse of a confidential or fiduciary relationship with the principal.

History: Laws 2007, ch. 135, § 115; 1978 Comp., § 46B-1-115 recompiled as § 45-5B-115 by Laws 2011, ch. 124, § 102.

ANNOTATIONS

Recompilations. — Laws 2011, ch. 124, § 102 recompiled former 46B-1-115 NMSA 1978 as 45-5B-115 NMSA 1978, effective January 1, 2012.