Statutory Power of Attorney Form

Division 4.5, Part 3 deals with a uniform statutory form power of attorney. Section 4400 names this part the Uniform Statutory Form Power of Attorney Act.

Section 4401 provides a statutory form power of attorney is legally sufficient when the requirements of Section 4402 are satisfied.

Section 4402 specifies that a statutory form power of attorney under this part is legally sufficient if all of the specified requirements are satisfied.

Section 4403 states that, if the line in front of (N) of the statutory form under Section 4401 is initialed, an initial on the line in front of any other power does not limit the powers granted by line (N).

Section 4404 says that a statutory form power of attorney legally sufficient under this part is durable to the extent that the power of attorney contains language as set forth in this section.

Section 4405 provides that a statutory form power of attorney under this part that limits the power to take effect upon the occurrence of a specified event or contingency, including the incapacity of the principal, may contain a provision designating one or more persons who, by a written declaration under penalty of perjury, have the power to determine conclusively that the specified event or contingency has occurred.

Section 4406 provides that, if a third person to whom a properly executed statutory form power of attorney under this part is presented refuses to honor the agent’s authority under the power of attorney within a reasonable time, the third person may be compelled to honor the agent’s authority under the power of attorney in an action brought against the third person for this purpose, except that the third person may not be compelled to honor the agent’s authority if the principal could not compel the third person to act in the same circumstances.

Section 4407 says that the provisions of this division apply to a statutory form power of attorney except when there is a conflicting provision in this part, in which case the provision of this part governs, or when a provision of this division is expressly made inapplicable to a statutory form power of attorney.

Section 4408 explains that nothing in this part affects or limits the use of any other form for a power of attorney. A form that complies with the requirements of any law other than the provisions of this part may be used instead of the form set forth in Section 4401, and none of the provisions of this part apply if the other form is used.

Chapter 2 deals with construction of powers. Section 4450 provides that, by executing a statutory form power of attorney with respect to a subject listed in Section 4401, the principal, except as limited or extended by the principal in the power of attorney, empowers the agent, for that subject, to do all ten of the specified actions.

Section 4451 states that, in a statutory form power of attorney, the language granting power with respect to real property transactions empowers the agent to do all eight of the specified actions.

Section 4452 says that, in a statutory form power of attorney, the language granting power with respect to tangible personal property transactions empowers the agent to do all four specified actions.

Section 4453 explains that, in a statutory form power of attorney, the language granting power with respect to stock and bond transactions empowers the agent to do all of the three specified actions.

Section 4454 states that, in a statutory form power of attorney, the language granting power with respect to commodity and option transactions empowers the agent to do the two specified actions.

Section 4455 explains that, in a statutory form power of attorney, the language granting power with respect to banking and other financial institution transactions empowers the agent to do all of the twelve specified actions.

Section 4456 states that, in a statutory form power of attorney, the language granting power with respect to business operating transactions empowers the agent to do all of the ten specified actions.

Section 4457 says that, in a statutory form power of attorney, the language granting power with respect to insurance and annuity transactions empowers the agent to do all eleven of the specified actions.

Section 4458 explains that, in a statutory form power of attorney, the language granting power with respect to estate, trust, and other beneficiary transactions, empowers the agent to act for the principal in all matters that affect a trust, probate estate, guardianship, conservatorship, escrow, custodianship, or other fund from which the principal is, may become, or claims to be entitled, as a beneficiary, to a share or payment, including the power to do all seven specified actions.

Section 4459 states that, in a statutory form power of attorney, the language with respect to claims and litigation empowers the agent to do all seven specified actions.

Section 4460 explains that, in a statutory form power of attorney, the language granting power with respect to personal and family maintenance empowers the agent to do all six of the specified actions. The authority of an agent with respect to personal and family maintenance under this section is not dependent on any other grant of authority to the agent to make gifts on the principal’s behalf and is not limited by any limitation that otherwise applies to the authority of the agent to make gifts on the principal’s behalf.

Section 4461 explains that, in a statutory form power of attorney, the language granting power with respect to benefits from social security, Medicare, Medicaid, or other governmental programs, or civil or military service, empowers the agent to do all five specified actions.

Section 4462 states that, in a statutory form power of attorney, the language granting power with respect to retirement plan transactions empowers the agent to do all of the six specified actions.

Section 4463 explains that, in a statutory form power of attorney, the language granting power with respect to tax matters empowers the agent to do all of the four specified actions.

Section 4464 says that the powers described in this chapter are exercisable equally with respect to an interest the principal has when the statutory form power of attorney is executed or acquires later, whether or not the property is located in this state, and whether or not the powers are exercised or the power of attorney is executed in this state.

Section 4465 provides that a statutory form power of attorney under this part does not empower the agent to take any of the actions specified unless the statutory form power of attorney expressly grants that authority to the attorney-in-fact.