# KRS § 457.020: 457.020 Definitions for chapter > Kentucky · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.020 ## Section - **Citation:** KRS § 457.020 - **Heading:** 457.020 Definitions for chapter - **Jurisdiction:** Kentucky - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** KY Code / Title XLII / Chapter 457 / Section 457.020 ## Text 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 authority 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 capabilities; (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 communicate 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 trust, 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 of 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 electronic 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) "Stocks 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. ## Nearby sections - [KRS § 457.010 457.010 Short title](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.010.md) - [KRS § 457.020 457.020 Definitions for chapter](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.020.md) - [KRS § 457.030 457.030 Applicability](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.030.md) - [KRS § 457.040 457.040 Power of attorney is durable](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.040.md) - [KRS § 457.050 457.050 Execution of power of attorney](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.050.md) - [KRS § 457.060 457.060 Validity of power of attorney](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.060.md) - [KRS § 457.070 457.070 Meaning and effect of power of attorney](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.070.md) - [KRS § 457.080 457.080 Nomination of conservator or guardian -- Relation of agent to court-appointed fiduciary](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.080.md) - [KRS § 457.090 457.090 When power of attorney effective](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.090.md) - [KRS § 457.100 457.100 Termination of power of attorney or agent's authority](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.100.md) - [KRS § 457.110 457.110 Coagents and successor agents](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.110.md) - [KRS § 457.120 457.120 Reimbursement and compensation of agent](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.120.md) - [KRS § 457.130 457.130 Agent's acceptance](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.130.md) - [KRS § 457.140 457.140 Agent's duties](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.140.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_KY_TXLII_C457_S457.020. Check the current official text before relying on it. Not legal advice.