Title 15, Probate, Trusts, and Fiduciaries

This part 7 may be cited as the Uniform Power of Attorney Act. Source: L. 2009: Entire part added, (HB 09-1198), ch.106, p. 384, � 1, effective April 9.

Except as otherwise provided under this part 7, and except as the context may otherwise require, in this part 7: (1) Agent means a person granted authority to act for a principal under a power of attorney, whether denominated an agent, attorney-in-fact, or otherwise. The term inc…

(1) This part 7 applies to all powers of attorney except: (a) A power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a creditor in connection with a credit transaction; (b) A power to make health-care dec…

(1) A power of attorney created on and after January 1, 2010, is durable unless it expressly provides that it is terminated by the incapacity of the principal. (2) A power of attorney existing on December 31, 2009, is durable only if on that day the power of attorney is durable u…

A power of attorney must be signed by the principal or in the principal's conscious presence by another individual directed by the principal to sign the principal's name on the power of attorney. A signature on a power of attorney is presumed to be genuine if the principal acknow…

(1) A power of attorney executed in this state on or after January 1, 2010, is valid if its execution complies with section 15-14-705. (2) A power of attorney executed in this state before January 1, 2010, is valid if its execution complied with the law of this state as it existe…

The meaning and effect of a power of attorney is determined by the law of the jurisdiction indicated in the power of attorney and, in the absence of an indication of jurisdiction, by the law of the jurisdiction in which the power of attorney was executed. Source: L. 2009: Entire …

(1) In a power of attorney, a principal may nominate a conservator of the principal ‘s estate or guardian of the principal ‘s person for consideration by the court if protective proceedings for the principal ‘s estate or person are begun after the principal executes the power of …

(1) A power of attorney is effective when executed unless the principal provides in the power of attorney that it becomes effective at a future date or upon the occurrence of a future event or contingency. (2) If a power of attorney becomes effective upon the occurrence of a futu…

(1) A power of attorney terminates when: (a) The principal dies; (b) The principal becomes incapacitated, if the power of attorney is not durable; (c) The principal revokes the power of attorney; (d) The power of attorney provides that it terminates; (e) The express purpose of th…

(1) A principal may designate two or more persons to act as coagents. Unless the power of attorney otherwise provides, each coagent may exercise its authority independently. (2) A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incap…

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. Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 390, � 1…

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. Source: L. 2009: Entire part added, (HB 0…

(1) Notwithstanding provisions in the power of attorney, an agent that has accepted appointment shall: (a) 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; (b) Act in good fa…

(1) 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…

(1) The following persons may petition a court to construe a power of attorney or review the agent's conduct and grant appropriate relief: (a) The principal or the agent; (b) A guardian, conservator, or other fiduciary acting for the principal; (c) A person authorized to make hea…

(1) An agent that violates this part 7 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 …

(1) 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: (a) To the conservator or guardian, if one has been appointed for the principal, and a coagent or…

(1) For purposes of this section and section 15-14-720, “acknowledged” means purportedly verified before a notary public or other individual authorized to take acknowledgements. (2) A person that in good faith accepts a purportedly acknowledged power of attorney without actual kn…

(1) Except as otherwise provided in subsection (2) of this section: (a) A person shall either accept an acknowledged power of attorney or request a certification, a translation, or an opinion of counsel under section 15-14-719 (4) no later than seven business days after presentat…

Unless displaced by a provision of this part 7, the principles of law and equity supplement this part 7. Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 395, � 1, effective April 9.

This part 7 does not supersede any other law applicable to financial institutions or other entities, and the other law controls if inconsistent with this part 7. Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 395, � 1, effective April 9.

The remedies under this part 7 are not exclusive and do not abrogate any right or remedy under the law of this state other than this part 7. Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 396, � 1, effective April 9. SUBPART 2 AUTHORITY OFFICIAL GENERAL COMMENT Sub…

(1) An agent under a power of attorney may do the following on behalf of the principal or with the principal ‘s property only if the power of attorney expressly grants the agent the authority and exercise of the authority is not otherwise prohibited by another agreement or instru…

(1) An agent has authority described in this part 7 if the power of attorney refers to general authority with respect to the descriptive term for the subjects stated in sections 15-14-727 to 15-14-740 or cites the section in which the authority is described. (2) A reference in a …

(1) Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in sections 15-14-727 to 15-14-740 or that grants to an agent authority to do all acts that a principal could do pursuant to section 15-1…

(1) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to real property authorizes the agent to: (a) Demand, buy, lease, receive, accept as a gift or as security for an extension of credit, or otherwise acquire…

(1) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to: (a) Demand, buy, receive, accept as a gift or as security for an extension of credit, or otherwise a…

(1) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to stocks and bonds authorizes the agent to: (a) Buy, sell, and exchange stocks and bonds; (b) Establish, continue, modify, or terminate an account with re…

(1) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to commodities and options authorizes the agent to: (a) Buy, sell, exchange, assign, settle, and exercise commodity futures contracts and call or put optio…

(1) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to: (a) Continue, modify, and terminate an account or other banking arrangement made by or o…

(1) Subject to the terms of a document or an agreement governing an entity or an entity ownership interest, and unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to operation of an entity or business authorize…

(1) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to insurance and annuities authorizes the agent to: (a) Continue, pay the premium or make a contribution on, modify, exchange, rescind, release, or termina…

(1) In this section, estate, trust, or other beneficial interest means a trust, probate estate, guardianship, conservatorship, escrow, or custodianship or a fund from which the principal is, may become, or claims to be, entitled as a beneficiary to a share or payment. (2) Unless …

(1) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to claims and litigation authorizes the agent to: (a) Assert and maintain before a court or administrative agency a claim, claim for relief, cause of actio…

(1) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to personal and family maintenance authorizes the agent to: (a) Perform the acts necessary to maintain the customary standard of living of the principal, t…

(1) In this section, “benefits from governmental programs or civil or military service” means any benefit, program, or assistance provided under a statute or regulation including social security, medicare, and medicaid. (2) Unless the power of attorney otherwise provides, languag…

(1) In this section, retirement plan means a plan or account created by an employer, the principal, or another individual to provide retirement benefits or deferred compensation of which the principal is a participant, beneficiary, or owner, including a plan or account under the …

(1) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to taxes authorizes the agent to: (a) Prepare, sign, and file federal, state, local, and foreign income, gift, payroll, property, Federal Insurance Contrib…

(1) In this section, a gift for the benefit of a person includes a gift to a trust, an account under the federal Uniform Transfers to Minors Act, and a tuition savings account or prepaid tuition plan as defined under Internal Revenue Code section 529, 26 U.S.C. sec. 529, as amend…

A document substantially in the following form may be used to create a statutory form power of attorney that has the meaning and effect prescribed by this part 7. STATE OF COLORADO STATUTORY FORM POWER OF ATTORNEY IMPORTANT INFORMATION This power of attorney authorizes another pe…

The following optional form may be used by an agent to certify facts concerning a power of attorney. AGENT'S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY AND AGENT'S AUTHORITY State of __________________________________ County of __________________________________ I, ___…

In applying and construing this part 7, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among the states that enact it. Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 418, � 1, effective April 9. 15-14-744…

This part 7, modifies, limits, and supersedes the federal “Electronic Signatures in Global and National Commerce Act”, 15 U.S.C. sec. 7001 et seq., but does not modify, limit, or supersede section 101 (c) of that act, 15 U.S.C. sec. 7001 (c), or authorize electronic delivery of a…

(1) Except as otherwise provided in this part 7, on January 1, 2010: (a) This part 7 applies to a power of attorney created before, on, or after January 1, 2010; (b) This part 7 applies to a judicial proceeding concerning a power of attorney commenced on or after January 1, 2010;…

(1) The general assembly finds and declares that: (a) Guardianship constitutes one of the most restrictive options available to adults with disabilities and their families; (b) Guardianship should be employed only when a less restrictive alternative would fail to meet the needs o…

As used in this part 8, unless the context otherwise requires: (1) Adult means an individual who is eighteen years of age or older, or an emancipated minor. (2) Assist means helping an adult with a disability weigh the pros and cons of a decision and understand the possible outco…

(1) An adult with a disability may voluntarily, without undue influence or coercion, enter into a supported decision-making agreement with one or more members of the supportive community. The supported decision-making agreement does not adversely affect the decision-making author…

(1) The member of the supportive community may only assist the adult with a disability in accessing, collecting, or obtaining information that is relevant to a decision made pursuant to the supported decision-making agreement and only when such assistance is specifically requeste…

(1) A supported decision-making agreement may be in any form but is valid only if it contains, at a minimum, the following: (a) The name of the adult with a disability; (b) The name, address, phone number, and email address of the member of the supportive community, if applicable…