§ 3-9-201 — Authority that requires specific grant; grant of general authority

Wyoming § 3-9-201

• Jurisdiction: Wyoming
• Title 03: Guardian and Ward
• Ch. 9: UNIFORM POWER OF ATTORNEY ACT
• Art. 2: AUTHORITY

Text

(a) An agent under a power of attorney may do the
following on behalf of the principal or with the principal's
property only if the power of attorney expressly grants the
agent the authority and exercise of the authority is not
otherwise prohibited by another agreement or instrument to which
the authority or property is subject:
(i) Create, amend, revoke or terminate an inter vivos
trust;
(ii) Make a gift;
(iii) Create or change rights of survivorship;
(iv) Create or change a beneficiary designation;
(v) Delegate authority granted under the power of
attorney;
(vi) Waive the principal's right to be a beneficiary
of a joint and survivor annuity, including a survivor benefit
under a retirement plan;
(vii) Exercise fiduciary powers the principal has
authority to delegate;
(viii) Disclaim property, including a power of
appointment.
(b) Notwithstanding a grant of authority to do an act
described in subsection (a) of this section and unless the power
of attorney otherwise provides, an agent that is not an
ancestor, spouse or descendant of the principal shall not
exercise authority under a power of attorney to create in the
agent, or in a person to whom the agent owes a legal obligation
of support, an interest in the principal's property whether by
gift, right of survivorship, beneficiary designation, disclaimer
or otherwise.
(c) Subject to subsections (a), (b), (d) and (e) of this
section, if a power of attorney grants to an agent authority to
do all the acts a principal may do, the agent has the general
authority described in W.S. 3-9-204 through 3-9-216.
(d) Unless the power of attorney otherwise provides, a
grant of authority to make a gift is subject to W.S. 3-9-217.
(e) Subject to subsections (a), (b) and (d) of this
section, if the subjects described in W.S. 3-9-204 through
3-9-217 over which authority is granted in a power of attorney
are similar or overlap, the broadest authority controls.
(f) Authority granted in a power of attorney is
exercisable with respect to property the principal has when the
power of attorney is executed or later acquires whether or not
the property is located in this state and whether or not the
authority is exercised or the power of attorney is executed in
this state.
(g) An act performed by an agent pursuant to a power of
attorney has the same effect and inures to the benefit of and
binds the principal and the principal's successors in interest
as if the principal had performed the act.