{"data":{"id":"us-ky/krs-457.110","jurisdiction":"us-ky","citation":"KRS 457.110","heading":"Coagents and successor agents.","body":"(1) If a principal designates two (2) or more persons to act as coagents, each coagent\nmay exercise its authority independently unless the power of attorney otherwise\nprovides.\n(2) A principal may designate one (1) or more successor agents to act if an agent\nresigns, dies, becomes incapacitated, is not qualified to serve, or declines to serve.\nA principal may grant authority to designate one (1) or more successor agents to an\nagent or other person designated by name, office, or function. Unless the power of\nattorney otherwise provides, a successor agent:\n(a) Has the same authority as that granted to the original agent; and\n(b) May not act until all predecessor agents have resigned, died, become\nincapacitated, are no longer qualified to serve, or have declined to serve.\n(3) Except as otherwise provided in the power of attorney and subsection (4) of this\nsection, an agent that does not participate in or conceal a breach of fiduciary duty\ncommitted by another agent, including a predecessor agent, is not liable for t he\nactions of the other agent.\n(4) An agent that has actual knowledge of a breach or imminent breach of fiduciary\nduty by another agent of the same principal shall notify the principal and, if the\nprincipal is incapacitated, take any action reasonably ap propriate in the\ncircumstances to safeguard the principal's best interest. An agent that fails to notify\nthe principal or take action as required by this subsection is liable for the reasonably\nforeseeable damages that could have been avoided if the agent had notified the\nprincipal or taken such action.","path":["KRS Chapter 457"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48271","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:59Z","sha256":"f7125998f398b4fb8acabdcb6725ef5cdadb1db6dd8311673763c9c2eb70dd68","source_id":"us-ky","stale":false,"prev":"us-ky/krs-457.100","next":"us-ky/krs-457.120"},"notice":"GroundRules: Original legal text. Not legal advice."}