HF 3741

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to power of attorney; changing certain requirements and the statutory
short form; amending Minnesota Statutes 2006, section 523.23, subdivision 1.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2006, section 523.23, subdivision 1, is amended to read:

Subdivision 1.

Form.

The following form may be used to create a power of attorney,
and, when used, it must be construed in accordance with sections 523.23 and 523.24:

STATUTORY SHORT FORM POWER OF ATTORNEY

MINNESOTA STATUTES, SECTION 523.23

IMPORTANT NOTICE: The powers granted by this document are broad and
sweeping. They are defined in Minnesota Statutes, section 523.24. If you have any
questions about these powers, obtain competent advice. This power of attorney may be
revoked by you if you wish to do so. This power of attorney is automatically terminated
if it is to your spouse and proceedings are commenced for dissolution, legal separation,
or annulment of your marriage. This power of attorney authorizes, but does not require,
the attorney-in-fact to act for you.

PRINCIPAL (Name and Address of Person Granting the Power)

	.
	.
	.

ATTORNEY(S)-IN-FACT		SUCCESSOR ATTORNEY(S)-IN-FACT
(Name and Address)		(Optional) To act if any named attorney-in-fact dies, resigns, or is otherwise unable to serve.
		(Name and Address)
.		First Successor .
.		.
.		.
.		Second Successor .
.		.
.		.
NOTICE: If more than one attorney-in-fact is designated, make a check or "x" on the line in front of one of the following statements:

... Each attorney-in-fact		EXPIRATION DATE (Optional)
may independently exercise		.	. ,	.
the powers granted.		Use Specific Month	Day	Year Only
... All attorneys-in-fact
must jointly exercise the
powers granted.

I, (the above-named Principal) hereby appoint the above named Attorney(s)-in-Fact to act
as my attorney(s)-in-fact:

FIRST: To act for me in any way that I could act with respect to the following
matters, as each of them is defined in Minnesota Statutes, section 523.24:

(To grant to the attorney-in-fact any of the following powers, make a check or "x" on
the line in front of each power being granted. You may, but need not, cross out each power
not granted. Failure to make a check or "x" on the line in front of the power will have the
effect of deleting the power unless the line in front of the power of (N) is checked or x-ed.)

. (A)	real property transactions;
	I choose to limit this power to real property in . County, Minnesota, described as follows:
	(Use legal description. Do not use street address.)
	.
	.
	.
	.
	(If more space is needed, continue on the back or on an attachment.)
. (B)	tangible personal property transactions;
. (C)	bond, share, and commodity transactions;
. (D)	banking transactions;
. (E)	business operating transactions;
. (F)	insurance transactions;
. (G)	beneficiary transactions;
. (H)	gift transactions;
. (I)	fiduciary transactions;
. (J)	claims and litigation;
. (K)	family maintenance;
. (L)	benefits from military service;
. (M)	records, reports, and statements;
. (N)	all of the powers listed in (A) through (M) above and all other matters.

SECOND: (You must indicate below whether or not this power of attorney will be
effective if you become incapacitated or incompetent. Make a check or "x" on the line in
front of the statement that expresses your intent.)

.	This power of attorney shall deleted text begin continue to deleted text end new text begin not new text end be effective if I become incapacitated or incompetent.
.	This power of attorney shall deleted text begin not deleted text end new text begin continue to new text end be effective if I become incapacitated or incompetent.

THIRD: (You must indicate below whether or not this power of attorney authorizes
the attorney-in-fact to transfer your property to the attorney-in-fact. Make a check or "x"
on the line in front of the statement that expresses your intent.)

.	This power of attorney deleted text begin authorizes deleted text end new text begin does not authorize new text end the attorney-in-fact to transfer my property to the attorney-in-fact.
.	This power of attorney deleted text begin does not authorize deleted text end new text begin authorizes new text end the attorney-in-fact to transfer my property to the attorney-in-fact.

FOURTH: (You deleted text begin may deleted text end new text begin must new text end indicate below whether or not the attorney-in-fact is
required to make an accounting. Make a check or "x" on the line in front of the statement
that expresses your intent.) new text begin If you do not indicate your intent, a quarterly accounting
to you will be required.
new text end

.	My attorney-in-fact need not render an accounting unless I request it or the accounting is otherwise required by Minnesota Statutes, section 523.21.

.	My attorney-in-fact must render .
		(Monthly, Quarterly, Annual)
	accountings to me or .
		(Name and Address)
	during my lifetime, and a final accounting to the personal representative of my estate, if any is appointed, after my death. new text begin My attorney-in-fact need not render an accounting unless I request it or the accounting is otherwise required by Minnesota Statutes, section 523.21. new text end

In Witness Whereof I have hereunto signed my name this . day of . ,
.

	.
	(Signature of Principal)
(Acknowledgment of Principal)

	STATE OF MINNESOTA		)
			) ss.
	COUNTY OF		)

The foregoing instrument was acknowledged before me this ..... day of .........., ........,
by .
(Insert Name of Principal)
		.
		(Signature of Notary Public or other Official)
new text begin ACKNOWLEDGMENT OF ATTORNEY(S)-IN-FACT new text end
new text begin I, ......................... (insert name(s) of attorney(s)-in-fact), acknowledge that by exercising a power granted by this document, I assume certain duties under law and may be civilly or criminally liable for an action made in bad faith or in a fraudulent or negligent manner, as provided in Minnesota Statutes, section 523.21 or 523.22, or other applicable law. new text end
new text begin In Witness Whereof I have hereunto signed my name this . day of . , ....... new text end
_
_
new text begin Signature of Attorney(s)-in-Fact new text end
new text begin (Acknowledgment of Attorney(s)-in-Fact) new text end
new text begin STATE OF MINNESOTA new text end	new text begin ) new text end
	new text begin ) ss. new text end
new text begin COUNTY OF new text end	new text begin ) new text end
new text begin The foregoing instrument was acknowledged before me this ..... day of .........., ........, new text end
new text begin by new text end _
new text begin (Insert Name(s) of Attorney(s)-in-fact) new text end
	_
	new text begin Signature of Notary Public or other Official new text end
This instrument was drafted by:		Specimen Signature of Attorney(s)-in-Fact
		(Notarization not required)
.		.
.		.
.		.
.		.