§ 5-1501. Application and definitions. 1. This title shall apply to all powers of attorney except powers of attorney excluded from this title by section 5-1501C of this title. 2. As used in this title the following terms shall have the following meanings: (a) “Agent” means a person granted authority to act as attorney-in-fact for […]
§ 5-1501A. Power of attorney not affected by incapacity. 1. A power of attorney is durable unless it expressly provides that it is terminated by the incapacity of the principal. 2. The subsequent incapacity of a principal shall not revoke or terminate the authority of an agent who acts under a durable power of attorney. […]
§ 5-1501B. Creation of a valid power of attorney; when effective. 1. To be valid, except as otherwise provided in section 5-1512 of this title, a statutory short form power of attorney, or a non-statutory power of attorney, executed in this state by a principal, must: (a) Be typed or printed using letters which are […]
§ 5-1501C. Powers of attorney excluded from this title. The provisions of this title shall not apply to the following powers of attorney: 1. a power of attorney given primarily for a business or commercial purpose, including without limitation: (a) a power to the extent it is coupled with an interest in the subject of […]
§ 5-1502A. Construction–real estate transactions. In a statutory short form power of attorney, the language conferring general authority with respect to “real estate transactions,” must be construed to mean that the principal authorizes the agent: 1. To accept as a gift, or as security for a loan, to reject, to demand, to buy, to lease, […]
§ 5-1502B. Construction–chattel and goods transactions. In a statutory short form power of attorney, the language conferring general authority with respect to “chattel and goods transactions,” must be construed to mean that the principal authorizes the agent: 1. To accept as a gift, or as security for a loan, to reject, to demand, to buy, […]
§ 5-1502C. Construction–bond, share and commodity transactions. In a statutory short form power of attorney, the language conferring general authority with respect to “bond, share and commodity transactions,” must be construed to mean that the principal authorizes the agent: 1. To accept as a gift, or as security for a loan, to reject, to demand, […]
§ 5-1502D. Construction–banking transactions. In a statutory short form power of attorney, the language conferring general authority with respect to “banking transactions,” must be construed to mean that the principal authorizes the agent: 1. To continue, to modify, to terminate and to make deposits to and withdrawals from any deposit account, including any joint account […]
§ 5-1502E. Construction–business operating transactions. In a statutory short form power of attorney, the language conferring general authority with respect to “business operating transactions,” must be construed to mean that the principal authorizes the agent: 1. To the extent that an agent is permitted by law thus to act for a principal, to discharge and […]
§ 5-1502F. Construction–insurance transactions. In a statutory short form power of attorney, the language conferring general authority with respect to “insurance transactions,” must be construed to mean that the principal authorizes the agent: 1. To continue, to pay the premium or assessment on, to modify, to rescind, to release or to terminate any contract of […]
§ 5-1502G. Construction–estate transactions. In a statutory short form power of attorney, the language conferring general authority with respect to “estate transactions,” must be construed to mean that the principal authorizes the agent: 1. To the extent that an agent is permitted by law thus to act for a principal, to apply for and to […]
§ 5-1502H. Construction–claims and litigation. In a statutory short form power of attorney, the language conferring general authority with respect to “claims and litigation,” must be construed to mean that the principal authorizes the agent: 1. To assert and to prosecute before any court, administrative board, department, commissioner or other tribunal, any cause of action, […]
§ 5-1502I. Construction–personal and family maintenance. In a statutory short form power of attorney, the language conferring general authority with respect to “personal and family maintenance” must be construed to mean that the principal authorizes the agent: 1. To do all acts necessary for maintaining the customary standard of living of the spouse and children, […]
§ 5-1502J. Construction–benefits from governmental programs or civil or military service. In a statutory short form power of attorney, the language conferring general authority with respect to “benefits from governmental programs or civil or military service,” or in a statutory short form power of attorney properly executed in accordance with the laws in effect at […]
§ 5-1502K. Construction–matters related to health care. In a statutory short form power of attorney, the language conferring general authority with respect to “matters related to health care,” or in a statutory short form power of attorney properly executed in accordance with the laws in effect at the time of its execution, the language conferring […]
§ 5-1502L. Construction–retirement benefit transactions. In a statutory short form power of attorney, the language conferring general authority with respect to “retirement benefit transactions” must be construed to mean that the principal authorizes the agent: 1. To contribute to, withdraw from and deposit funds in any type of retirement benefit or plan (including, but not […]
§ 5-1502M. Construction–tax matters. In a statutory short form power of attorney, the language conferring general authority with respect to “tax matters”, must be construed to mean that the principal authorizes the agent: 1. To prepare, sign, and file federal, state, local, and foreign income, gift, payroll, federal insurance contributions act returns, and other tax […]
§ 5-1502N. Construction–all other matters. In a statutory short form power of attorney, the language conferring general authority with respect to “all other matters” must be construed to mean that the principal authorizes the agent to act as an alter ego of the principal with respect to any and all possible matters and affairs which […]
§ 5-1503. Modifications of the statutory short form power of attorney. A power of attorney which satisfies the requirements of paragraphs (a), (b) and (c) of subdivision one of section 5-1501B and section 5-1513 of this title is not prevented from being a “statutory short form power of attorney”, by the fact that it also […]
§ 5-1504. Acceptance of and reliance upon acknowledged and witnessed statutory short form power of attorney. 1. (a) For purposes of this section, “acknowledged” means purportedly verified before a notary public or other individual authorized to take acknowledgements. For purposes of this section, “witnessed” means purportedly witnessed by two persons who are not named in […]
