Colorado Statutory Durable Power of Attorney

Colorado Statutory Durable Power of Attorney Information

This is a statutory power of attorney formatted to the Colorado Uniform Power of Attorney Act.

Appoint an agent, co-agent and or successor agents. "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 includes an original agent, coagent, successor agent, and a person to which an agent's authority is delegated. (15-14-702(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.)
(15-14-711. (1))
[A principal may designate one or more successor agents to act if an agent resigns, dies, becomes incapacitated, is not qualified to serve, or declines to serve. A principal may grant authority to designate one or more successor agents to an agent or other person designated by name, office, or function. Unless the power of attorney otherwise provides, a successor agent.] [15-14-711. (2)]

15-14-704. Power of attorney is durable
(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.

Powers that can be granted by the principal to the agent
15-14-724. Authority that requires specific grant - grant of general authority
15-14-725. Incorporation of authority - incorporation by reference
15-14-726. Construction of authority generally
15-14-727. Real property
15-14-728. Tangible personal property
15-14-729. Stocks and bonds
15-14-730. Commodities and options
15-14-731. Banks and other financial institutions
15-14-732. Operation of entity or business
15-14-733. Insurance and annuities
15-14-734. Estates, trusts, and other beneficial interests
15-14-735. Claims and litigation
15-14-736. Personal and family maintenance
15-14-737. Benefits from governmental programs or civil or military service
15-14-738. Retirement plans
15-14-739. Taxes
15-14-740. Gifts

Powers are granted by initialing a statute, in the case of " Banks and other financial institutions" when you initial the line ( ________ Banks and other financial institutions as defined in section 15-14-731), you are empowering your agent to perform any task necessary, as defined by Colorado Revised Statute 15-14-731 (2017) which reads:
(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 on behalf of the principal;
(b) Establish, modify, and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm, or other financial institution selected by the agent;
(c) Contract for services available from a financial institution, including renting a safe deposit box or space in a vault;
(d) Withdraw, by check, order, electronic funds transfer, or otherwise, money or property of the principal deposited with or left in the custody of a financial institution;
(e) Receive statements of account, vouchers, notices, and similar documents from a financial institution and act with respect to them;
(f) Enter a safe deposit box or vault and withdraw or add to the contents;
(g) Borrow money and pledge as security personal property of the principal necessary to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;
(h) Make, assign, draw, endorse, discount, guarantee, and negotiate promissory notes, checks, drafts, and other negotiable or nonnegotiable paper of the principal or payable to the principal or the principal's order; transfer money; receive the cash or other proceeds of those transactions; and accept a draft drawn by a person upon the principal and pay it when due;
(i) Receive for the principal and act upon a sight draft, warehouse receipt, or other document of title whether tangible or electronic or other negotiable or nonnegotiable instrument;
(j) Apply for, receive, and use letters of credit, credit and debit cards, electronic transaction authorizations, and traveler's checks from a financial institution and give an indemnity or other agreement in connection with letters of credit; and
(k) Consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution

Power of Attorney documents are often recorded, this form is fully formatted for recording in Counties located within Colorado, it includes an addendum page for listing real property and an exhibit page for additional information, if needed.

Deeds.com Colorado Statutory Durable Power of Attorney Forms Have Been Updated as Recently as Friday March 24, 2023

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