The Louisiana durable power of attorney (also known as a “mandate”) is used to appoint an agent (called a “mandatary”) to act as the representative for a principal and make decisions regarding banking, business, property, investments, and insurance policies. These financial powers are set out in the document and can be limited or amended as the principal sees fit.
The agent has an obligation to fulfill their responsibilities with diligence and will be liable for any losses incurred as a result of their failure to act appropriately. In the event that the principal is disabled or otherwise incapacitated, the power of attorney remains effective so that the agent may continue to oversee the principal’s financial interests.
Laws – CC 2989 et seq.
Signing Requirements (CC 2993) – Not mentioned in state statutes; notary public or witness acknowledgment is recommended.