Colorado § 15-14-602 Definitions

Colorado Statutes

§ 15-14-602 — Definitions

Colorado·Title 15 Probate,·Art. Persons Under Disability - Protection

As used in this part 6:

(1)Agency means the relationship between the principal and the principal's agent.

(2)Agency instrument means the written power of attorney or other written instrument of agency governing the relationship between the principal and agent. An agency is subject to the provisions of this part 6 to the extent the agency relationship is established in writing and may be controlled by the principal, excluding agencies and powers for the benefit of the agent. This definition shall not apply to medical powers of attorney drafted pursuant to the Colorado Patient Autonomy Act, sections 15-14-503 to 15-14-509, a power of attorney subject to the Uniform Power of Attorney Act, part 7 of this article, or to any other power of attorney or instrument of agency granted by

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As used in this part 6:

(1) Agency means the relationship between the principal and the principal's
agent.

(2) Agency instrument means the written power of attorney or other
written instrument of agency governing the relationship between the principal and
agent. An agency is subject to the provisions of this part 6 to the extent the agency
relationship is established in writing and may be controlled by the principal,
excluding agencies and powers for the benefit of the agent. This definition shall not
apply to medical powers of attorney drafted pursuant to the Colorado Patient
Autonomy Act, sections 15-14-503 to 15-14-509, a power of attorney subject to the
Uniform Power of Attorney Act, part 7 of this article, or to any other power of
attorney or instrument of agency granted by an individual.

(3) Agent means the attorney-in-fact or other person, including
successors, who is authorized by the agency instrument to act for the principal.

(4) Principal means a corporation, trust, partnership, limited liability
company, or other entity, including, but not limited to, an entity acting as trustee,
personal representative, or other fiduciary, who signs a power of attorney or other
instrument of agency granting powers to an agent.

(5) Third party means any person who is requested by an agent under an
agency instrument to recognize the agent's authority to deal with the principal's
property or who acts in good-faith reliance on a copy of the agency instrument.
Third party includes an individual, corporation, trust, partnership, limited liability
company, or other entity, as may be appropriate.

Colorado § 15-14-602 (Definitions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 94: Entire part added, p. 1069, � 1, effective January 1, 1995. L. 2009: (2) and (4) amended, (HB 09-1198), ch. 106, p. 421, � 7, effective January 1, 2010.