§ 457.020

457.020 Definitions for chapter. As used in this chapter: (1) 'Agent' means a person granted authority to act for a principal under a power of attorney, whether denominated an agent, attorney -in-fact, or otherwise. The term includes an original agent, coagent, successor agent, and a person to which an agent's authori ty is delegated; (2) 'Durable,' with respect to a power of attorney, means not terminated by the principal's incapacity; (3) 'Electronic' means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar cap abilities; (4) 'Good faith' means honesty in fact; (5) 'Incapacity' means inability of an individual to manage property or business affairs because the individual: (a) Has an impairment in the ability to receive and evaluate information or make or communi cate decisions even with the use of technological assistance; or (b) Is: 1. Missing; 2. Detained, including incarcerated in a penal system; or 3. Outside the United States and unable to return; (6) 'Person' means an individual, corporation, business t rust, estate, trust, partnership, limited liability company, association, joint venture, public corporation,

ted States and unable to return; (6) 'Person' means an individual, corporation, business t rust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity; (7) 'Power of attorney' means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used; (8) 'Principal' means an individual who grants authority to an agent in a power o f attorney; (9) 'Property' means anything that may be the subject of ownership, whether real or personal, or legal or equitable, or any interest or right therein; (10) 'Record' means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form; (11) 'Sign' means, with present intent to authenticate or adopt a record: (a) To execute or adopt a tangible symbol; or (b) To attach to or logically associate with the record an electron ic sound, symbol, or process; (12) 'State' means a state of the United States, the District of Columbia, Puerto

tangible symbol; or (b) To attach to or logically associate with the record an electron ic sound, symbol, or process; (12) 'State' means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States; and (13) 'Stoc ks and bonds' means stocks, bonds, mutual funds, and all other types of securities and financial instruments, whether held directly, indirectly, or in any other manner. The term does not include commodity futures contracts and call or put options on stocks or stock indexes. Effective: July 14, 2018 History: Created 2018 Ky. Acts ch. 185, sec. 2, effective July 14, 2018.