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[Utah Code Table of Contents]
[TITLE 75. Table of Contents]
[CHAPTER 5. Table of Contents]
75-5-501 Power of attorney not affected by disability or lapse of time - Agent responsibilities.
(1) Whenever a principal designates another his attorney-in-fact or agent by a power of attorney in writing and the writing contains the words "This power of attorney shall not be affected by disability of the principal," or "This power of attorney shall become effective upon the disability of the principal," or similar words showing the intent of the principal that the authority conferred shall be exercisable notwithstanding his disability, the authority of the attorney-in-fact or agent is exercisable by him as provided in the power on behalf of the principal notwithstanding:
(a) later disability or incapacity of the principal at law or later uncertainty as to whether the principal is dead or alive; or
(b) the lapse of time since the execution of the instrument, unless the instrument states a time of termination.
(2) If an attorney-in-fact or agent determines that the principal has become incapacitated or disabled and the power of attorney by its terms remains in effect or becomes effective as a result of a principal's incapacity or disability, the attorney-in-fact or agent shall:
(a) notify all interested persons of his status as the power of attorney holder within 30 days of the principal's incapacitation, and provide them with his name and address;
(b) provide to any interested persons upon written request, a copy of the power of attorney;
(c) provide to any interested persons upon written request, an annual accounting of the assets to which the power of attorney applies, unless the power of attorney specifically directs that the attorney-in-fact or agent is not required to do so; and
(d) notify all interested persons upon the death of the principal.
(3) All interested persons shall be notified within ten days if the attorney-in-fact or agent changes. The notification shall be made by the new attorney-in-fact or agent who shall then be accountable to the interested persons in accordance with Subsection (2).
(4) All acts done by the attorney-in-fact or agent pursuant to the power during any period of disability or incompetence or uncertainty as to whether the principal is dead or alive have the same effect and inure to the benefit of and bind the principal or his heirs, devisees, and personal representative as if the principal were alive, competent, and not disabled, except as provided in Section 75-5-503 .
(5) A conservator may be appointed for a principal even though the principal has a valid power of attorney in place. If a conservator thereafter is appointed for the principal, the attorney-in-fact or agent, during the continuance of the appointment, shall account to the conservator rather than the principal. The conservator, pursuant to court order as provided in Subsection 75-5-408 (1)(d), has the same power the principal would have had if he were not disabled or incompetent to revoke, suspend, or terminate all or any part of the power of attorney or agency.
(6) For the purposes of this section, "interested person"
means any person entitled to a part of the principal's estate
from the principal's will or through the intestacy laws,
whichever is applicable.
2003
75-5-502 Other powers of attorney not revoked until notice of death or disability.
(1) The death, disability, or incompetence of any principal who has executed a power of attorney in writing other than a power as described by Section 75-5-501 , does not revoke or terminate the agency as to the attorney-in-fact, agent, or other person who, without actual knowledge of the death, disability, or incompetence of the principal, acts in good faith under the power of attorney or agency. Any action so taken, unless otherwise invalid or unenforceable, binds the principal and his heirs, devisees, and personal representatives. This power is exercisable notwithstanding the lapse of time since the execution of the instrument, unless the instrument states a time of termination.
(2) An affidavit, executed by the attorney-in-fact or agent stating that he did not have, at the time of doing an act pursuant to the power of attorney, actual knowledge of the revocation or termination of the power of attorney by death, disability, or incompetence is, in the absence of fraud, conclusive proof of the nonrevocation or nontermination of the power at that time. If the exercise of the power requires execution and delivery of any instrument which is recordable, the affidavit when authenticated for the record is likewise recordable.
(3) This section may not be construed to alter or affect
any provision for revocation or termination contained in
the power of attorney. Notwithstanding any provision of the
power of attorney to the contrary, the power of attorney
ends at death subject to the provisions of this section.
1994
75-5-503 Power of attorney - Prohibitions and restrictions.
A power of attorney may not be construed to grant authority to an attorney-in-fact or agent to perform any of the following, unless expressly authorized in the power of attorney:
(1) create, modify, or revoke an inter vivos revocable trust created by the principal;
(2) fund, with the principal's property, a trust not created by the principal or by a person authorized to create a trust on behalf of the principal;
(3) make or revoke a gift of the principal's property, in trust or otherwise; or
(4) designate or change the designation of beneficiaries
to receive any property, benefit, or contract right on the
principal's death.
2003
75-5-504 Voidable transactions.
Any loan, sale, or encumbrance on behalf of a principal
with his attorney-in-fact, or with the attorney-in-fact's
spouse, agent, or attorney, or any entity or trust in which
the attorney-in-fact has a substantial beneficial interest,
or any transaction involving the attorney-in-fact which is
affected by a substantial conflict of interest, is voidable
unless the transaction is approved by the court after notice
to interested persons and others as directed by the court.
2003
