C.R.S. Section 15-14-607
Reliance on an agency instrument

(1)

Intentionally left blank —Ed.

(a)

Any third party who acts in good-faith reliance on an agency instrument that is duly notarized shall be fully protected and released to the same extent as if such third party dealt directly with the principal as a fully competent person. Upon demand of any third party, the agent shall furnish an affidavit that states that the agency instrument relied upon is a true copy of the agency instrument and that, to the best of the agent’s knowledge, the principal is alive and the relevant powers of the agent have not been altered or terminated; however, any third party who acts in good-faith reliance on an agency instrument shall be protected regardless of whether such third party demands or receives an affidavit.

(b)

Intentionally left blank —Ed.

(I)

Any third party who deals with an agent may presume, in the absence of actual knowledge to the contrary, that:

(A)

The agency instrument naming the agent was validly executed;

(B)

The principal had authority to act at the time of execution; and

(C)

At the time of reliance, the principal exists, the agency instrument and the relevant powers of the agent have not terminated or been amended, and the acts of the agent conform to the standards of this part 6.

(II)

Any third party who relies on an agency instrument shall not be responsible for the proper application of any property delivered to or controlled by the agent or for questioning the authority of the agent.

(2)

Any person to whom the agent, operating under a duly notarized agency instrument, communicates a direction that is in accordance with the terms of the agency instrument shall comply with such direction. Any person who arbitrarily or without reasonable cause fails to comply with such direction shall be subject to the costs, expenses, and reasonable attorney fees required to appoint a conservator for the principal, to obtain a declaratory judgment, or to obtain an order pursuant to section 15-14-412. This subsection (2) shall not apply to the sale, transfer, encumbrance, or conveyance of real property.

(3)

Any third party that has reasonable cause to question the authenticity, validity, or authority of an agency instrument or agency may make prompt and reasonable inquiry of the agent, the principal, or other persons involved for additional information and may submit an interpleader action to the district court or the probate court of the county in which the principal resides by depositing any funds or other assets that may be affected by the agency instrument with the appropriate court. In such an interpleader action, if the court finds that the third party had reasonable cause to commence the action, the third party shall be entitled to all reasonable expenses and costs incurred by the third party in bringing the interpleader action.

(4)

Any third party may require an agent to present, as proof of the agency, either the original agency instrument naming such agent or a facsimile thereof certified by a notary. The third party has discretion to determine whether the agent shall provide the original agency instrument or a certified facsimile.

Source: Section 15-14-607 — Reliance on an agency instrument, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-15.­pdf (accessed Oct. 20, 2023).

15‑14‑101
Short title 15‑14‑102
Definitions 15‑14‑104
Facility of transfer 15‑14‑105
Delegation of power by parent or guardian 15‑14‑106
Subject-matter jurisdiction 15‑14‑107
Transfer of jurisdiction 15‑14‑108
Venue 15‑14‑109
Practice in court - consolidation of proceedings 15‑14‑110
Letters of office 15‑14‑111
Effect of acceptance of appointment 15‑14‑112
Termination of or change in guardian’s or conservator’s appointment 15‑14‑113
Notice 15‑14‑113.5
Appointments without notice - investigation - report - procedures 15‑14‑114
Waiver of notice 15‑14‑115
Guardian ad litem 15‑14‑116
Request for notice - interested persons 15‑14‑117
Multiple appointments or nominations 15‑14‑118
Small estate - person under disability - no personal representative 15‑14‑119
Notice to public institutions on appointment of guardian or conservator 15‑14‑120
Uniform veterans’ guardianship act not affected 15‑14‑121
Uniformity of application and construction 15‑14‑122
Severability clause 15‑14‑201
Appointment and status of guardian 15‑14‑202
Testamentary appointment of guardian - appointment by written instrument 15‑14‑203
Objection of others to parental appointment - consent by minor of twelve years of age or older to appointment of guardian 15‑14‑204
Judicial appointment of guardian - conditions for appointment - definition 15‑14‑205
Judicial appointment of guardian - procedure 15‑14‑206
Judicial appointment of guardian - priority of minor’s nominee - limited guardianship 15‑14‑207
Duties of guardian 15‑14‑208
Powers of guardian 15‑14‑209
Rights and immunities of a guardian 15‑14‑210
Termination of guardianship - other proceedings after appointment 15‑14‑301
Appointment and status of guardian 15‑14‑304
Judicial appointment of guardian - petition 15‑14‑305
Preliminaries to hearing 15‑14‑306
Professional evaluation 15‑14‑308
Presence and rights at hearing 15‑14‑309
Notice 15‑14‑310
Who may be guardian - priorities - prohibition of dual roles 15‑14‑311
Findings - order of appointment 15‑14‑312
Emergency guardian 15‑14‑313
Temporary substitute guardian 15‑14‑314
Duties of guardian 15‑14‑315
Powers of guardian 15‑14‑315.5
Dissolution of marriage and legal separation 15‑14‑316
Rights and immunities of guardian - limitations 15‑14‑317
Reports - monitoring of guardianship - court access to records 15‑14‑318
Termination or modification of guardianship - resignation or removal of guardian 15‑14‑319
Right to a lawyer post-adjudication 15‑14‑401
Protective proceeding 15‑14‑402
Jurisdiction over business affairs of protected person 15‑14‑403
Original petition for appointment or protective order 15‑14‑404
Notice 15‑14‑405
Original petition - minors - preliminaries to hearing 15‑14‑406
Original petition - persons under disability - preliminaries to hearing 15‑14‑406.5
Professional evaluation 15‑14‑408
Original petition - procedure at hearing 15‑14‑409
Original petition - orders 15‑14‑410
Powers of court 15‑14‑411
Required court approval 15‑14‑412
Protective arrangements and single transactions 15‑14‑412.5
Limited court-approved arrangements authorized for persons seeking medical assistance for nursing home care - applicable to trusts established before a certain date 15‑14‑412.6
Trust established by an individual - eligibility for certain public assistance programs - general provisions 15‑14‑412.7
Income trusts - limitations 15‑14‑412.8
Disability trusts - limitations 15‑14‑412.9
Pooled trusts - limitations 15‑14‑413
Who may be conservator - priorities - prohibition of dual roles 15‑14‑414
Petition for order subsequent to appointment 15‑14‑415
Bond 15‑14‑416
Terms and requirements of bond 15‑14‑418
General duties of conservator - financial plan 15‑14‑419
Inventory 15‑14‑420
Reports - appointment of monitor - monitoring - records - court access to records 15‑14‑421
Title by appointment 15‑14‑422
Protected person’s interest inalienable 15‑14‑423
Sale, encumbrance, or other transaction involving conflict of interest 15‑14‑424
Protection of person dealing with conservator 15‑14‑425
Powers of conservator in administration 15‑14‑425.5
Authority to petition for dissolution of marriage or legal separation 15‑14‑426
Delegation 15‑14‑427
Principles of distribution by conservator 15‑14‑428
Death of protected person 15‑14‑429
Presentation and allowance of claims 15‑14‑430
Personal liability of conservator 15‑14‑431
Termination of proceedings 15‑14‑432
Payment of debt and delivery of property to foreign conservator without local proceeding 15‑14‑433
Foreign conservator - proof of authority - bond - powers 15‑14‑434
Right to a lawyer post-adjudication 15‑14‑500.3
Legislative declaration 15‑14‑500.5
Definitions - excluded powers 15‑14‑501
When power of attorney not affected by disability 15‑14‑502
Other powers of attorney not revoked until notice of death or disability 15‑14‑503
Short title 15‑14‑504
Legislative declaration - construction of statute 15‑14‑505
Definitions 15‑14‑506
Medical durable power of attorney 15‑14‑507
Transfer of principal 15‑14‑508
Immunities 15‑14‑509
Interstate effect of medical durable power of attorney 15‑14‑602
Definitions 15‑14‑603
Applicability 15‑14‑604
Duration of agency - amendment and revocation - resignation of agent 15‑14‑606
Duty - standard of care - record keeping - exoneration 15‑14‑607
Reliance on an agency instrument 15‑14‑611
Applicability of part 15‑14‑701
Short title 15‑14‑702
Definitions 15‑14‑703
Applicability 15‑14‑704
Power of attorney is durable 15‑14‑705
Execution of power of attorney 15‑14‑706
Validity of power of attorney 15‑14‑707
Meaning and effect of power of attorney 15‑14‑708
Nomination of conservator or guardian - relation of agent to court-appointed fiduciary 15‑14‑709
When power of attorney effective 15‑14‑710
Termination of power of attorney or agent’s authority 15‑14‑711
Coagents and successor agents 15‑14‑712
Reimbursement and compensation of agent 15‑14‑713
Agent’s acceptance 15‑14‑714
Agent’s duties 15‑14‑715
Exoneration of agent 15‑14‑716
Judicial relief 15‑14‑717
Agent’s liability 15‑14‑718
Agent’s resignation - notice 15‑14‑719
Acceptance of and reliance upon acknowledged power of attorney 15‑14‑720
Liability for refusal to accept acknowledged power of attorney 15‑14‑721
Principles of law and equity 15‑14‑722
Laws applicable to financial institutions and entities 15‑14‑723
Remedies under other law 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 15‑14‑741
Statutory form - power of attorney 15‑14‑742
Certification 15‑14‑743
Uniformity of application and construction 15‑14‑744
Relation to “Electronic Signatures in Global and National Commerce Act” 15‑14‑745
Effect on existing powers of attorney 15‑14‑801
Legislative declaration 15‑14‑802
Definitions 15‑14‑803
Supported decision-making agreement - term 15‑14‑804
Access to personal information 15‑14‑805
Agreement requirements - signature - witnesses or notary public 15‑14‑806
Reliance on agreement - limitation of liability
Green check means up to date. Up to date

Current through Fall 2024

§ 15-14-607’s source at colorado​.gov