(1) (a) The principal may specify in the agency instrument:
(I) The event upon which or time when the agency begins and terminates;
(II) The mode of revocation or amendment of the agency instrument; and
(III) The rights, powers, duties, limitations, immunities, and other terms applicable to the agent and to all third parties dealing with the agent.
(b) The provisions of the agency instrument control in the case of a conflict between the provisions of the agency instrument and the provisions of this part 6. In the agency instrument, the principal may authorize the agent to appoint a successor agent.
(2) (a) Except as otherwise provided in this part 6, on or after January 1, 1995:
(I) The provisions of this part 6 govern every agency instrument, whenever and wherever executed, and all acts of the agent, to the extent the provisions of this part 6 are not inconsistent with the agency instrument; and
(II) The provisions of this part 6 apply to all agency instruments exercised in Colorado and to all other agency instruments if the principal is a resident of Colorado at the time the agency instrument is signed or at the time of exercise or if the agency instrument indicates that Colorado law is to apply.
(b) Repealed.
(3) (a) The authority of an attorney-in-fact or an agent to act on behalf of the principal may include, but is not limited to, the powers specified in sections 15-14-501 to 15-14-506.
(b) Repealed.
(4) Repealed.
Source: L. 94: Entire part added, p. 1070, � 1, effective January 1, 1995. L. 98: (3) amended, p. 1171, � 6, effective June 1. L. 2007: (3)(b) amended, p. 797, � 4, effective July 1. L. 2009: (2)(b), (3)(b), and (4) repealed, (HB 09-1198), ch. 106, p. 422, � 8, effective January 1, 2010.
15-14-604. Duration of agency - amendment and revocation - resignation of agent.
(1) (Deleted by amendment, L. 2009, (HB 09-1198), ch. 106, p. 422, � 9, effective January 1, 2010.)
(2) Any agency created by an agency instrument continues until the principal ceased to exist, regardless of the length of time that elapses, unless the agency instrument states an earlier termination date. The principal may amend or revoke the agency instrument at any time and in any manner that is communicated to the agent or to any other person who is related to the subject matter of the agency. Any agent who acts in good faith on behalf of the principal within the scope of an agency instrument is not liable for any acts that are no longer authorized by reason of an amendment or revocation of the agency instrument until the agent receives actual notice of the amendment or revocation. An agency may be temporarily continued under the conditions specified in section 15-14-607.
(3) (Deleted by amendment, L. 2009, (HB 09-1198), ch. 106, p. 422, � 9, effective January 1, 2010.)
(4) Any agent acting on behalf of a principal under an agency instrument has the right to resign under the terms and conditions stated in the agency instrument. If the agency instrument does not specify the terms and conditions of resignation, an agent may resign by notifying the principal, or the principal's receiver, custodian, trustee in bankruptcy, liquidating trustee, or similar representative if one has been appointed, in writing of the agent's resignation. The agent shall also notify in writing the successor agent, if any, and all reasonably ascertainable third parties who are affected by the resignation. In all cases, any party who receives notice of the resignation of an agent is bound by such notice.
Source: L. 94: Entire part added, p. 1071, � 1, effective January 1, 1995. L. 2009: Entire section amended, (HB 09-1198), ch. 106, p. 422, � 9, effective January 1, 2010.