§15-1017. Construction of power relating to retirement plan transactions.
CONSTRUCTION OF POWER RELATING TO RETIREMENT PLAN TRANSACTIONS In a statutory power of attorney, the language granting power with respect to retirement plan transactions empowers the agent to: 1. Select payment options under any retirement plan in which the principal participates, including plans for self-employed individuals; 2. Make voluntary contributions to those plans; 3. Exercise […]
§15-1002. Purpose.
The purposes of this act are to simplify the creation of a power of attorney and, when a form substantially similar to the form set forth in this act is utilized, to assure third parties that they may rely in good faith on the acts of the agent within the scope of the power of […]
§15-1018. Construction of power relating to tax matters.
CONSTRUCTION OF POWER RELATING TO TAX MATTERS In a statutory power of attorney, the language granting power with respect to tax matters empowers the agent to: 1. Prepare, sign, and file federal, state, local, and foreign income, gift, payroll, Federal Insurance Contributions Act returns, and other tax returns, claims for refunds, requests for extension of […]
§15-1003. Statutory form for power of attorney.
STATUTORY FORM FOR POWER OF ATTORNEY A. The following statutory form of power of attorney is legally sufficient: STATUTORY POWER OF ATTORNEY NOTICE: THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND SWEEPING. THEY ARE EXPLAINED IN THE UNIFORM STATUTORY FORM POWER OF ATTORNEY ACT. IF YOU HAVE ANY QUESTIONS ABOUT THESE POWERS, OBTAIN COMPETENT […]
§15-1019. Existing interests; foreign interests.
EXISTING INTERESTS; FOREIGN INTERESTS The powers described in Sections 5 through 18 of this act are exercisable equally with respect to an interest the principal has when the power of attorney is executed or acquires later, whether or not the property is located in this state, and whether or not the powers are exercised or […]
§15-1004. Durability of power of attorney.
DURABILITY OF POWER OF ATTORNEY A power of attorney legally sufficient under this act is durable to the extent that durable powers are permitted by other laws of this state and the power of attorney contains language, such as “This power of attorney will continue to be effective if I become disabled, incapacitated, or incompetent”, […]
§15-1020. Uniformity of application and construction.
UNIFORMITY OF APPLICATION AND CONSTRUCTION This act shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this act among states enacting it. Added by Laws 1998, c. 420, § 20, eff. Nov. 1, 1998.
§15-1005. Construction of power generally.
CONSTRUCTION OF POWER GENERALLY By executing a statutory power of attorney with respect to a subject listed in subsection A of Section 1 of this act, the principal, except as limited or extended by the principal in the power of attorney, empowers the agent, for that subject to: 1. Demand, receive, and obtain by litigation […]
§15-1006. Construction of power relating to real property transactions.
CONSTRUCTION OF POWER RELATING TO REAL PROPERTY TRANSACTIONS In a statutory power of attorney, the language granting power with respect to real property transactions empowers the agent to: 1. Accept as a gift or as security for a loan, reject, demand, buy, lease, receive, or otherwise acquire, an interest in real property or a right […]
§15-1007. Construction of power relating to tangible personal property transactions.
CONSTRUCTION OF POWER RELATING TO TANGIBLE PERSONAL PROPERTY TRANSACTIONS In a statutory power of attorney, the language granting power with respect to tangible personal property transactions empowers the agent to: 1. Accept as a gift or as security for a loan, reject, demand, buy, receive, or otherwise acquire ownership or possession of tangible personal property […]