(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.
A person that in good faith accepts a purportedly acknowledged power of attorneywithout actual knowledge that the signature is not genuine may rely upon the presumption under section 15-14-705 that the signature is genuine.
A person that in good faith accepts a purportedly acknowledged power of attorneywithout actual knowledge that the power of attorney is void, invalid, or terminated, that the purported agent's authority is void, invalid, or terminated, or that the agent is exceeding or improperly exercising the agent's authority may rely upon the power of attorney as if the power of attorney were genuine, valid, and still in effect, the agent's authority were genuine, valid, and still in effect, and the agent had not exceeded and had properly exercised the authority.
A person that is asked to accept an acknowledged power of attorney may request andrely upon, without further investigation, one or more of the following:
An agent's certification under penalty of perjury of any factual matter concerning theprincipal, agent, or power of attorney;
An English translation of the power of attorney if the power of attorney contains, inwhole or in part, language other than English; or
An opinion of counsel as to any matter of law concerning the power of attorney if theperson making the request provides in a writing or other record the reason for the request.
An English translation, an agent's certification, or an opinion of counsel requestedunder this section must be provided at the principal's expense.
For purposes of this section and section 15-14-720, a person that conducts activitiesthrough employees is without actual knowledge of a fact relating to a power of attorney, a principal, or an agent if the employee conducting the transaction involving the power of attorney is without actual knowledge of the fact.
Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 393, § 1, effective April 9.