Colorado § 15-14-731 Banks and other financial institutions

Colorado Statutes

§ 15-14-731 — Banks and other financial institutions

Colorado § 15-14-731

Title 15Probate,

Art.Persons Under Disability - Protection

This text of Colorado § 15-14-731 (Banks and other financial institutions) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 15-14-731 (2026).

Text

(1)Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to:

(a)Continue, modify, and terminate an account or other banking arrangement made by or on behalf of the principal;

(b)Establish, modify, and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm, or other financial institution selected by the agent;

(c)Contract for services available from a financial institution, including renting a safe deposit box or space in a vault;

(d)Withdraw, by check, order, electronic funds transfer, or otherwise, money or property of the principal deposited with

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(1) Unless the power of
attorney otherwise provides, language in a power of attorney granting general
authority with respect to banks and other financial institutions authorizes the agent
to:

(a) Continue, modify, and terminate an account or other banking
arrangement made by or on behalf of the principal;

(b) Establish, modify, and terminate an account or other banking
arrangement with a bank, trust company, savings and loan association, credit union,
thrift company, brokerage firm, or other financial institution selected by the agent;

(c) Contract for services available from a financial institution, including
renting a safe deposit box or space in a vault;

(d) Withdraw, by check, order, electronic funds transfer, or otherwise, money
or property of the principal deposited with or left in the custody of a financial
institution;

(e) Receive statements of account, vouchers, notices, and similar documents
from a financial institution and act with respect to them;

(f) Enter a safe deposit box or vault and withdraw or add to the contents;

(g) Borrow money and pledge as security personal property of the principal
necessary to borrow money or pay, renew, or extend the time of payment of a debt
of the principal or a debt guaranteed by the principal;

(h) Make, assign, draw, endorse, discount, guarantee, and negotiate
promissory notes, checks, drafts, and other negotiable or nonnegotiable paper of
the principal or payable to the principal or the principal's order; transfer money;
receive the cash or other proceeds of those transactions; and accept a draft drawn
by a person upon the principal and pay it when due;

(i) Receive for the principal and act upon a sight draft, warehouse receipt, or
other document of title whether tangible or electronic or other negotiable or
nonnegotiable instrument;

(j) Apply for, receive, and use letters of credit, credit and debit cards,
electronic transaction authorizations, and traveler's checks from a financial
institution and give an indemnity or other agreement in connection with letters of
credit; and

(k) Consent to an extension of the time of payment with respect to
commercial paper or a financial transaction with a financial institution.