§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 […]
§15-1008. Construction of power relating to stock and bond transactions.
CONSTRUCTION OF POWER RELATING TO STOCK AND BOND TRANSACTIONS In a statutory power of attorney, the language granting power with respect to stock and bond transactions empowers the agent to buy, sell, and exchange stocks, bonds, mutual funds, and all other types of securities and financial instruments except commodity futures contracts and call and put […]
§15-1009. Construction of power relating to commodity and option transactions.
CONSTRUCTION OF POWER RELATING TO COMMODITY AND OPTION TRANSACTIONS In a statutory power of attorney, the language granting power with respect to commodity and option transactions empowers the agent to buy, sell, exchange, assign, settle, and exercise commodity futures contracts and call and put options on stocks and stock indexes traded on a regulated option […]
§15-1010. Construction of power relating to banking and other financial institution transactions.
CONSTRUCTION OF POWER RELATING TO BANKING AND OTHER FINANCIAL INSTITUTION TRANSACTIONS In a statutory power of attorney, the language granting power with respect to banking and other financial institution transactions empowers the agent to: 1. Continue, modify, and terminate an account or other banking arrangement made by or on behalf of the principal; 2. Establish, […]
§15-1011. Construction of power relating to business operating transactions.
CONSTRUCTION OF POWER RELATING TO BUSINESS OPERATING TRANSACTIONS In a statutory power of attorney, the language granting power with respect to business operating transactions empowers the agent to: 1. Operate, buy, sell, enlarge, reduce, and terminate a business interest; 2. To the extent that an agent is permitted by law to act for a principal […]
§15-1012. Construction of power relating to insurance transactions.
CONSTRUCTION OF POWER RELATING TO INSURANCE TRANSACTIONS In a statutory power of attorney, the language granting power with respect to insurance and annuity transactions empowers the agent to: 1. Continue, pay the premium or assessment on, modify, rescind, release, or terminate a contract procured by or on behalf of the principal which insures or provides […]