(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.
A reference in a power of attorney to general authority with respect to the descriptiveterm for a subject in sections 15-14-727 to 15-14-740 or a citation to a section of sections 15-14727 to 15-14-740 incorporates the entire section as if it were set out in full in the power of attorney.
(2.5) In addition to the incorporation of authority as provided in subsections (1) and (2) of this section, a writing or other record in existence when a power of attorney is executed may be incorporated by reference if the language of the power of attorney manifests this intent and describes the writing or other record sufficiently to permit its identification. A writing or other record so incorporated by reference is considered as set out in full in the power of attorney.
A principal may modify authority or a writing or other record incorporated by reference.
Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 397, § 1, effective April 9. 15-14-726. Construction of authority generally. (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 15-14-724 (3), a principal authorizes the agent, with respect to that subject, to:
Demand, receive, and obtain by litigation or otherwise money or another thing ofvalue to which the principal is, may become, or claims to be entitled and conserve, invest, disburse, or use anything so received or obtained for the purposes intended;
Contract in any manner with any person, on terms agreeable to the agent, to accomplish a purpose of a transaction and perform, rescind, cancel, terminate, reform, restate, release, or modify the contract or another contract made by or on behalf of the principal;
Execute, acknowledge, seal, deliver, file, or record any instrument or communicationthe agent considers desirable to accomplish a purpose of a transaction, including creating at any time a schedule listing some or all of the principal's property and attaching it to the power of attorney;
Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to a claim existing in favor of or against the principal or intervene in litigation relating to the claim;
Seek on the principal's behalf the assistance of a court or other governmental agencyto carry out an act authorized in the power of attorney;
Engage, compensate, and discharge an attorney, accountant, discretionary investmentmanager, expert witness, or other advisor;
Prepare, execute, and file a record, report, or other document to safeguard or promotethe principal's interest under a statute or regulation;
Communicate with any representative or employee of a government or governmentalsubdivision, agency, or instrumentality on behalf of the principal;
Access communications intended for and communicate on behalf of the principal,whether by mail, electronic transmission, telephone, or other means; and
Do any lawful act with respect to the subject and all property related to the subject.
Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 398, § 1, effective April 9.