{"data":{"id":"us-ky/krs-457.020","jurisdiction":"us-ky","citation":"KRS 457.020","heading":"Definitions for chapter.","body":"As used in this chapter:\n(1) \"Agent\" means a person granted authority to act for a principal under a power of\nattorney, whether denominated an agent, attorney -in-fact, or otherwise. The term\nincludes an original agent, coagent, successor agent, and a person to which an\nagent's authority is delegated;\n(2) \"Durable,\" with respect to a power of attorney, means not terminated by the\nprincipal's incapacity;\n(3) \"Electronic\" means relating to technology having electrical, digital, magnetic,\nwireless, optical, electromagnetic, or similar capabilities;\n(4) \"Good faith\" means honesty in fact;\n(5) \"Incapacity\" means inability of an individual to manage property or business affairs\nbecause the individual:\n(a) Has an impairment in the ability to receive and evaluate information or make\nor communicate decisions even with the use of technological assistance; or\n(b) Is:\n1. Missing;\n2. Detained, including incarcerated in a penal system; or\n3. Outside the United States and unable to return;\n(6) \"Person\" means an individual, corporation, business t rust, estate, trust, partnership,\nlimited liability company, association, joint venture, public corporation, government\nor governmental subdivision, agency, or instrumentality, or any other legal or\ncommercial entity;\n(7) \"Power of attorney\" means a writing or other record that grants authority to an agent\nto act in the place of the principal, whether or not the term power of attorney is\nused;\n(8) \"Principal\" means an individual who grants authority to an agent in a power o f\nattorney;\n(9) \"Property\" means anything that may be the subject of ownership, whether real or\npersonal, or legal or equitable, or any interest or right therein;\n(10) \"Record\" means information that is inscribed on a tangible medium or that is stored\nin an electronic or other medium and is retrievable in perceivable form;\n(11) \"Sign\" means, with present intent to authenticate or adopt a record:\n(a) To execute or adopt a tangible symbol; or\n(b) To attach to or logically associate with the record an electronic sound, symbol,\nor process;\n(12) \"State\" means a state of the United States, the District of Columbia, Puerto Rico,\nthe United States Virgin Islands, or any territory or insular possession subject to the\njurisdiction of the United States; and\n(13) \"Stocks and bonds\" means stocks, bonds, mutual funds, and all other types of\nsecurities and financial instruments, whether held directly, indirectly, or in any other\nmanner. The term does not include commodity futures contracts and call or put\noptions on stocks or stock indexes.","path":["KRS Chapter 457"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48262","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:59Z","sha256":"66b6036b62760ab58f7aaf01fc2ecb8c878a26b70b28b6866e9c3f224f3acd2a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-457.010","next":"us-ky/krs-457.030"},"notice":"GroundRules: Original legal text. Not legal advice."}