This act [45-5B-101 to 45-5B-403 NMSA 1978] may be cited as the “Uniform Power of Attorney Act”. History: Laws 2007, ch. 135, § 101; 1978 Comp., § 46B-1-101 recompiled as § 45-5B-101 by Laws 2011, ch. 124, § 102. ANNOTATIONS Recompilations. — Laws 2011, ch. 124, § 102 recompiled former 46B-1-101 NMSA 1978 as 45-5B-101 […]
A. A principal may designate two or more persons to act as co-agents. Unless the power of attorney otherwise provides, each co-agent may exercise its authority independently. B. A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve or declines to serve. […]
Unless the power of attorney otherwise provides, an agent is entitled to reimbursement of expenses reasonably incurred on behalf of the principal and to compensation that is reasonable under the circumstances. History: Laws 2007, ch. 135, § 112; 1978 Comp., § 46B-1-112 recompiled as § 45-5B-112 by Laws 2011, ch. 124, § 102. ANNOTATIONS Recompilations. […]
Except as otherwise provided in the power of attorney, a person accepts appointment as an agent under a power of attorney by exercising authority or performing duties as an agent or by any other assertion or conduct indicating acceptance. History: Laws 2007, ch. 135, § 113; 1978 Comp., § 46B-1-113 recompiled as § 45-5B-113 by […]
A. Notwithstanding provisions in the power of attorney, an agent that has accepted appointment shall: (1) act in accordance with the principal’s reasonable expectations to the extent actually known by the agent and, otherwise, in the principal’s best interest; (2) act in good faith; and (3) act only within the scope of authority granted in […]
A provision in a power of attorney relieving an agent of liability for breach of duty is binding on the principal and the principal’s successors in interest except to the extent the provision: A. relieves the agent of liability for breach of duty committed dishonestly, with an improper motive or with reckless indifference to the […]
A. The following persons may petition a court to construe a power of attorney or review the agent’s conduct and grant appropriate relief: (1) the principal or the agent; (2) a guardian, conservator or other fiduciary acting for the principal; (3) a person authorized to make health care decisions for the principal; (4) the principal’s […]
An agent that violates the Uniform Power of Attorney Act is liable to the principal or the principal’s successors in interest for the amount required to: A. restore the value of the principal’s property to what it would have been had the violation not occurred; and B. reimburse the principal or the principal’s successors in […]
Unless the power of attorney provides a different method for an agent’s resignation, an agent may resign by giving notice to the principal and, if the principal is incapacitated: (1) to the conservator or guardian, if one has been appointed for the principal, and a co-agent or successor agent; or (2) if there is no […]
A. For purposes of this section and Section 120 [45-5B-120 NMSA 1978] of the Uniform Power of Attorney Act, “acknowledged” means purportedly verified before a notary public or other individual authorized to take acknowledgments. B. A person that in good faith accepts an acknowledged power of attorney without actual knowledge that the signature is not […]
A. As used in this section, “statutory form power of attorney” means a power of attorney substantially in the form provided in Section 301 [45-5B-301 NMSA 1978] of the Uniform Power of Attorney Act or that meets the requirements for a military power of attorney pursuant to 10 U.S.C. Section 1046, as amended. B. Except […]
Unless displaced by a provision of the Uniform Power of Attorney Act, the principles of law and equity supplement that act. History: Laws 2007, ch. 135, § 121; 1978 Comp., § 46B-1-121 recompiled as § 45-5B-121 by Laws 2011, ch. 124, § 102. ANNOTATIONS Recompilations. — Laws 2011, ch. 124, § 102 recompiled former 46B-1-121 […]
The Uniform Power of Attorney Act does not supersede any other law applicable to financial institutions or other entities, and the other law controls if inconsistent with that act. History: Laws 2007, ch. 135, § 122; 1978 Comp., § 46B-1-122 recompiled as § 45-5B-122 by Laws 2011, ch. 124, § 102. ANNOTATIONS Recompilations. — Laws […]
The remedies under the Uniform Power of Attorney Act are not exclusive and do not abrogate any right or remedy under the law of this state other than that act. History: Laws 2007, ch. 135, § 123; 1978 Comp., § 46B-1-123 recompiled as § 45-5B-123 by Laws 2011, ch. 124, § 102. ANNOTATIONS Recompilations. — […]
