California Probate Code

§ 4457

PROB § 4457 Effective Jan 1, 2012Div. 4.5 · Part 3 · Ch. 2

Statute text

In a statutory form power of attorney, the language granting power with respect to insurance and annuity transactions empowers the agent to do all of the following:

(a)Continue, pay the premium or assessment on, modify, rescind, release, or terminate a contract procured by or on behalf of the principal that insures or provides an annuity to either the principal or another person, whether or not the principal is a beneficiary under the contract.

(b)Procure new, different, and additional contracts of insurance and annuities for the principal and the principal’s spouse, children, and other dependents, and select the amount, type of insurance or annuity, and mode of payment.

…

Legislative history

Amended by Stats. 2011, Ch. 113, Sec. 5. (AB 1082) Effective January 1, 2012.