§ 4470. General Principles.

(a) A licensee's fiduciary duties recognized under this Article are based upon the fiduciary relationship established with the consumer as follows:

(1) A licensee's relationship to a conservatee when acting as a court appointed conservator;

(2) A licensee's relationship to a ward when acting as a court appointed guardian;

(3) A licensee's relationship to a principal when acting under a durable power of attorney; and,

(4) A licensee's relationship to a beneficiary when acting as a trustee.

(b) The licensee shall comply with all local, state, and federal laws, regulations, and requirements developed by the courts and the Judicial Council as a minimum guide for the fulfillment of the fiduciary duties recognized under this Article.

(c) The licensee shall protect all rights of the consumer that relate to licensee's fiduciary duties to the consumer.

(d) The licensee shall refrain from representing the consumer in areas outside the scope of legal authority.

(e) The licensee shall seek competent professional advice whenever appropriate for the benefit of the consumer.

(f) Consistent with the licensee's fiduciary duties, the licensee shall provide or arrange for services to the consumer, to the extent they are appropriate and reasonable based upon the needs of the consumer, that are in the best interest of the consumer.

(g) Notwithstanding any other provision of law, any expense incurred by the licensee for the delivery of services that are provided to, or arranged for, the consumer by the licensee, including attorney fees or fees to the licensee for services, shall be considered reasonable if approved by the court.

HISTORY

1. New article 4 (sections 4470-4484) and section filed 11-2-2007 as an emergency; operative 11-2-2007 (Register 2007, No. 44). A Certificate of Compliance must be transmitted to OAL by 4-30-2008 or emergency language will be repealed by operation of law on the following day.

2. Certificate of Compliance as to 11-26-2007 order, including amendment of subsections (b) and (c), transmitted to OAL 4-24-2008 and filed 5-19-2008 (Register 2008, No. 21).

3. Editorial correction of subsection (a) (Register 2008, No. 39).

4. Amendment of subsection (b) and new subsections (f)-(g) filed 5-17-2012; operative 6-16-2012 (Register 2012, No. 20).

Note

Note: Authority cited: Sections 6517 and 6520, Business and Professions Code. Reference: Section 6520, Business and Professions Code.