(1)The general assembly hereby
recognizes that each adult individual has the right as a principal to appoint an agent
to deal with property or make personal decisions for the individual, but that this
right cannot be fully effective unless the principal may empower the agent to act
throughout the principal's lifetime, including during periods of disability, and be
sure that any third party will honor the agent's authority at all times.
(2)The general assembly hereby finds, determines, and declares that:
(a)In light of modern financial needs, the statutory recognition of the right of
delegation in Colorado must be restated, among other things, to expand its
application and the permissible scope of the agent's authority, to clarify the power
of the individual to authorize an age
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(1) The general assembly hereby
recognizes that each adult individual has the right as a principal to appoint an agent
to deal with property or make personal decisions for the individual, but that this
right cannot be fully effective unless the principal may empower the agent to act
throughout the principal's lifetime, including during periods of disability, and be
sure that any third party will honor the agent's authority at all times.
(2) The general assembly hereby finds, determines, and declares that:
(a) In light of modern financial needs, the statutory recognition of the right of
delegation in Colorado must be restated, among other things, to expand its
application and the permissible scope of the agent's authority, to clarify the power
of the individual to authorize an agent to make financial decisions for the individual,
and to better protect any third party who relies in good faith on the agent so that
reliance will be assured.
(b) The public interest requires a standard form for certification of agency
that any third party may use to assure that an agent's authority under an agency
has not been altered or terminated.
(3) The general assembly hereby finds, determines, and declares that
nothing in this part 5 or part 6 or 7 of this article shall be deemed to authorize or
encourage any course of action that violates the criminal laws of this state or the
United States. Similarly, nothing in this part 5 or part 6 or 7 of this article shall be
deemed to authorize or encourage any violation of any civil right expressed in the
constitution, statutes, case law, or administrative rulings of this state or the United
States or any course of action that violates the public policy expressed in the
constitution, statutes, case law, or administrative rulings of this state or the United
States.
(4) The general assembly hereby recognizes each adult's constitutional right
to accept or reject medical treatment, artificial nourishment, and hydration and the
right to create advanced medical directives and to appoint an agent to make health-care decisions under a medical durable power of attorney. The Colorado Patient
Autonomy Act, sections 15-14-503 to 15-14-509, is intended to assist the exercise
of such rights.
(5) In the event of a conflict between the provisions of part 7 of this article
and the Colorado Patient Autonomy Act or between the provisions of powers of
attorney prepared pursuant to part 7 of this article and the Colorado Patient
Autonomy Act, the provisions of the Colorado Patient Autonomy Act or
provisions of powers of attorney prepared pursuant to the Colorado Patient
Autonomy Act shall prevail.
(6) Parts 6 and 7 of this article 14 do not abridge the right of any person to
enter into a verbal principal and agent relationship. A brokerage relationship
between a real estate broker and a seller, landlord, buyer, or tenant in a real estate
transaction established pursuant to part 4 of article 10 of title 12 shall be governed
by the provisions of part 4 of article 10 of title 12 and not by parts 6 and 7 of this
article 14.
(7) Parts 6 and 7 of this article do not create any power or right in an agent
that the agent's principal does not hold or possess and does not abridge contracts
existing between principals and third parties.