2021 Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 14 - Persons Under Disability - Protection
Part 7 - Uniform Power of Attorney Act
§ 15-14-713. Agent's Acceptance
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. Source: L. 2009: Entire part added,(HB 09-1198), ch. 106, p. 390, § 1, effective April 9.
OFFICIAL COMMENT
This section establishes a default rule for agent acceptance of appointment under a power of attorney. Unless a different method is provided in the power of attorney, an agent's acceptance occurs upon exercise of authority, performance of duties, or any other assertion or conduct indicating acceptance. Acceptance is the critical reference point for commencement of the agency relationship and the imposition of fiduciary duties ( Section 15-14-714(1) ). Because a person may be unaware that the principal has designated the person as an agent in a power of attorney, clear demarcation of when an agency relationship commences is necessary to protect both the principal and the agent. Karen E. Boxx, , 36 Ga. L. Rev. 1, 41 (2001) (noting that “fiduciary duties should be imposed only to the extent the attorney-in-fact knows of the role, is able to accept responsibility, and affirmatively accepts”). The Act also provides a default method for agent resignation ( Section 15-14-718 ), which terminates the agency relationship ( Section 15-14-710(2)(b) ).
see See The Durable Power of Attorney's Place in the Family of Fiduciary Relationships see see
