2021 Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 14 - Persons Under Disability - Protection
Part 7 - Uniform Power of Attorney Act
§ 15-14-722. Laws Applicable to Financial Institutions and Entities
This part 7 does not supersede any other law applicable to financial institutions or other entities, and the other law controls if inconsistent with this part 7.
History. Source: L. 2009: Entire part added,(HB 09-1198), ch. 106, p. 395, § 1, effective April 9.
OFFICIAL COMMENT
This section addresses concerns of representatives from the banking and insurance industries that there may be regulations which govern those entities that conflict with provisions of this Act. Although no specific conflicts were identified during the drafting process, Section 15-14-722 provides that in the event a law applicable to a financial institution or other entity is inconsistent with this Act, the other law will supersede this Act to the extent of the inconsistency. This concern about inconsistency with the requirements of other law is already substantially addressed in Section 15-14-720 , which provides, in pertinent part, that a person is not required to accept a power of attorney if, “the person is not otherwise required to engage in a transaction with the principal in the same circumstances,” or “engaging in a transaction with the agent or the principal in the same circumstances would be inconsistent with federal law.”
