{"data":{"id":"us-ok/okla.-stat.-tit.-58-58-3014","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 58, § 58-3014","heading":"Agent's duties","body":"A. Notwithstanding provisions in the power of attorney, an\n\nagent that has accepted appointment shall:\n\n1. Act in accordance with the principal's reasonable\n\nexpectations to the extent actually known by the agent and,\n\notherwise, in the principal's best interest;\n\n2. Act in good faith; and\n\n3. Act only within the scope of authority granted in the power\n\nof attorney.\n\nB. Except as otherwise provided in the power of attorney, an\n\nagent that has accepted appointment shall:\n\n1. Act loyally for the principal's benefit;\n\n2. Act so as not to create a conflict of interest that impairs\n\nthe agent's ability to act impartially in the principal's best\n\ninterest;\n\n3. Act with the care, competence and diligence ordinarily\n\nexercised by agents in similar circumstances;\n\n4. Keep a record of all receipts, disbursements and\n\ntransactions made on behalf of the principal;\n\n5. Cooperate with a person that has authority to make health\n\ncare decisions for the principal to carry out the principal's\n\nreasonable expectations to the extent actually known by the agent\n\nand, otherwise, act in the principal's best interest; and\n\n6. Attempt to preserve the principal's estate plan, to the\n\nextent actually known by the agent, if preserving the plan is\n\nconsistent with the principal's best interest based on all relevant\n\nfactors, including:\n\na. the value and nature of the principal's property,\n\nb. the principal's foreseeable obligations and need for\n\nmaintenance,\n\nc. minimization of taxes, including income, estate,\n\ninheritance, generation-skipping transfer and gift\n\ntaxes, and\n\nd. eligibility for a benefit, a program or assistance\n\nunder a statute or regulation.\n\nC. An agent that acts in good faith is not liable to any\n\nbeneficiary of the principal's estate plan for failure to preserve\n\nthe plan.\n\nD. An agent that acts with care, competence and diligence for\n\nthe best interest of the principal is not liable solely because the\n\nagent also benefits from the act or has an individual or conflicting\n\ninterest in relation to the property or affairs of the principal.\n\nE. If an agent is selected by the principal because of special\n\nskills or expertise possessed by the agent or in reliance on the\n\nagent's representation that the agent has special skills or\n\nexpertise, the special skills or expertise must be considered in\n\ndetermining whether the agent has acted with care, competence and\n\ndiligence under the circumstances.\n\nF. Absent a breach of duty to the principal, an agent is not\n\nliable if the value of the principal's property declines.\n\nG. An agent that exercises authority to delegate to another\n\nperson the authority granted by the principal or that engages\n\nanother person on behalf of the principal is not liable for an act,\n\nerror of judgment or default of that person if the agent exercises\n\ncare, competence and diligence in selecting and monitoring the\n\nperson.\n\nH. Except as otherwise provided in the power of attorney, an\n\nagent is not required to disclose receipts, disbursements or\n\ntransactions conducted on behalf of the principal unless ordered by\n\na court or requested by the principal, a guardian, a conservator,\n\nanother fiduciary acting for the principal, a governmental agency\n\nhaving authority to protect the welfare of the principal or, upon\n\nthe death of the principal, by the personal representative or\n\nsuccessor in interest of the principal's estate. If so requested,\n\nwithin thirty (30) days the agent shall comply with the request or\n\nprovide a writing or other record substantiating why additional time\n\nis needed and shall comply with the request within an additional\n\nthirty (30) days.","path":["OK Code","Title 58"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os58.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"d15af3adbe97341b7d4f2c396afdec49e7dd0022be682bc6ff0ddc0781dcfa91","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-58-58-3013","next":"us-ok/okla.-stat.-tit.-58-58-3015"},"notice":"GroundRules: Original legal text. Not legal advice."}