Chapter 45 — Chapter 45

A power of attorney created under the Uniform Power of Attorney Act is durable unless it expressly provides that it is terminated by the incapacity of the principal. History: Laws 2007, ch. 135, § 104; 1978 Comp., § 46B-1-104 recompiled as § 45-5B- 104 by Laws 2011, ch. 124, § 10…

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…

A. A power of attorney executed in this state on or after July 1, 2007 is valid if its execution complies with Section 105 [45-5B-105 NMSA 1978] of the Uniform Power of Attorney Act. B. A power of attorney executed in this state before July 1, 2007 is valid if its execution compl…

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. History: Laws 2007, ch. …

to court-appointed fiduciary. A. 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 princi…

A. 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. B. If a power of attorney becomes effective upon the occurrence of a future…

A. A power of attorney terminates when: (1) the principal dies; (2) the principal becomes incapacitated, if the power of attorney is not durable; (3) the principal revokes the power of attorney; (4) the power of attorney provides that it terminates; (5) the purpose of the power o…

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 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. History: Laws 2007, ch. 135, § 112; 1978 Comp., § 46B-1-112 recompiled…

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 …

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 fai…

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 im…

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 healt…

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 t…

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 su…

of attorney. 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…

attorney. 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…

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.

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…

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.

authority. A. 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 …

A. An agent has authority described in this article if the power of attorney refers to general authority with respect to the descriptive term for the subjects stated in Sections 204 through 217 [45-5B-204 through 45-5B-217 NMSA 1978] of the Uniform Power of Attorney Act or cites …

Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in Sections 204 through 217 [45-5B-204 to 45-5B-217 NMSA 1978] of the Uniform Power of Attorney Act or that grants to an agent authority to d…

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 or re…

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 acquire…

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 respect to…

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 options on …

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 on beha…

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 authorizes th…

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 terminate a c…

A. As used in this section, "estates, trusts and other beneficial interests" 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 to a share or payment. B. Unless the powe…

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 action, co…

A. 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: (1) perform the acts necessary to maintain the customary standard of living of the principal, th…

service. A. As used 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. B. Unless the power of attorney otherwise pro…

A. As used 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 und…

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 Contributions …

A. As used in this section, a gift "for the benefit of" a person includes a gift to a trust, an account under the Uniform Transfers to Minors Act [46-7-11 to 46-7-34 NMSA 1978] and a tuition savings account or prepaid tuition plan as defined under Section 529 of the Internal Reve…

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 the Uniform Power of Attorney Act: "NEW MEXICO STATUTORY FORM POWER OF ATTORNEY IMPORTANT INFORMATION This power of attorney autho…

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 the Uniform Power of Attorney Act, 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. History: Laws 2007, ch. 135, § 401; 1978 Comp., § 46B-1-401 recompiled as § 45…

Commerce Act. The Uniform Power of Attorney Act modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or…

Except as otherwise provided in the Uniform Power of Attorney Act, on July 1, 2007: A. the Uniform Power of Attorney Act applies to a power of attorney created before, on or after July 1, 2007; B. the Uniform Power of Attorney Act applies to a judicial proceeding concerning a pow…

A provision for a nonprobate transfer on death in an insurance policy, contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, individual retireme…

ANNOTATIONS Compiler's notes. — Laws 2001, ch. 236, § 1, relating to real property; transfer on death deed, was erroneously compiled as 45-6-101.1 NMSA 1978. It should have been compiled as 45-6-401 NMSA 1978 and now appears at that location.

statutory allowances. A. In this section, "nonprobate transfer" means a valid transfer effective at death, other than a transfer of a survivorship interest in a joint tenancy of real estate, by a transferor whose last domicile was in this state to the extent that the transferor i…

History: 1953 Comp., § 32A-6-103, enacted by Laws 1975, ch. 257, § 6-103.

History: 1953 Comp., § 32A-6-104, enacted by Laws 1975, ch. 257, § 6-104.

History: 1953 Comp., § 32A-6-105, enacted by Laws 1975, ch. 257, § 6-105.

History: 1953 Comp., § 32A-6-106, enacted by Laws 1975, ch. 257, § 6-106.

History: 1953 Comp., § 32A-6-107, enacted by Laws 1975, ch. 257, § 6-107.