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Office of the Revisor of Statutes

Key: (1) language to be deleted (2) new language

  

                         Laws of Minnesota 1984 

                        CHAPTER 603-S.F.No. 1821
           An act relating to powers of attorney; providing 
          procedures for granting powers of attorney; construing 
          various specific powers; amending Minnesota Statutes 
          1982, sections 508.72; 508A.72; 528.15; proposing new 
          law coded as Minnesota Statutes, chapter 523; 
          repealing Minnesota Statutes 1982, sections 51A.25; 
          507.291; 507.292; 507.293; 507.294; 507.39; 524.5-501; 
          524.5-502; and 528.16. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
   Section 1.  Minnesota Statutes 1982, section 508.72, is 
amended to read: 
    508.72 [AGENCY; POWER TO BE REGISTERED.] 
    Any act which may legally be done or performed by any 
person under this chapter may be done and performed by his agent 
thereto when duly authorized in writing.  Such The instrument or 
power of attorney shall be filed with the registrar and 
registered by him if it is executed and acknowledged as now 
required by law in the case of a deed, filed with the registrar, 
and registered by him.  Any instrument revoking such the power 
of attorney shall may be filed and registered if it is executed, 
and acknowledged, and registered in like manner the same way.  A 
written instrument of revocation of an unregistered power of 
attorney, executed and acknowledged by a person having a 
registered interest in land, may be filed for registration as a 
memorial upon the certificate of title.  
    Sec. 2.  Minnesota Statutes 1982, section 508A.72, is 
amended to read:  
    508A.72 [AGENCY; POWER TO BE REGISTERED.] 
    Any act which may legally be done or performed by any 
person under sections 508A.01 to 508A.85 may be done and 
performed by his agent when duly authorized in writing.  The 
instrument or power of attorney shall be filed with the 
registrar and registered by him if it is executed and 
acknowledged as required by law in the case of a deed, filed 
with the registrar, and registered by him.  Any instrument 
revoking the power of attorney shall may be filed and registered 
if it is executed, and acknowledged, and registered in like 
manner the same way.  A written instrument of revocation of an 
unregistered power of attorney, executed and acknowledged by a 
person having a registered interest in land, may be filed for 
registration as a memorial upon the certificate of title. 
    Sec. 3.  [523.01] [AUTHORIZATION.] 
    A person who is a competent adult may, as principal, 
designate another person or an authorized corporation as the 
person's attorney-in-fact by a written power of attorney.  The 
power of attorney is validly executed when it is dated and 
signed by the principal and, in the case of a signature on 
behalf of the principal, by another, or by a mark, acknowledged 
by a notary public.  Only powers of attorney validly created 
pursuant to section 3 or 4 are validly executed powers of 
attorney for the purposes of sections 3 to 27.  
    Sec. 4.  [523.02] [COMMON LAW, PRE-EXISTING AND FOREIGN 
POWERS OF ATTORNEY.] 
    A written power of attorney is a validly executed power of 
attorney for the purposes of sections 3 to 27, and is subject to 
the provisions of sections 3 to 27, if it is validly created 
pursuant to:  (1) the law of Minnesota as it existed prior to 
the enactment of sections 3 to 27 if it was executed prior to 
the effective date of sections 3 to 27; (2) the common law; or 
(3) the law of another state or country.  
    Sec. 5.  [523.03] [INTERPRETATION.] 
    Unless the context requires otherwise, all references in 
sections 3 to 27 to the "principal" include any guardian or 
conservator of the estate appointed for the principal at any 
time and all references to a "power of attorney" mean a validly 
executed power of attorney.  
    Sec. 6.  [523.04] [POWER OF ATTORNEY PRESUMED TO BE VALIDLY 
EXECUTED.] 
    A written power of attorney that is dated and purports to 
be signed by the principal named in it is presumed to be valid. 
All parties may rely on this presumption except those who have 
actual knowledge that the power was not validly executed.  
    Sec. 7.  [523.05] [RECORDING OF POWER OF ATTORNEY.] 
    If the exercise of the power of attorney requires execution 
and delivery of any instrument which is recordable, the power of 
attorney and any affidavit authorized under sections 3 to 27 
when authenticated for record in conformity with section 507.24, 
are also recordable.  
    Sec. 8.  [523.06] [CERTIFICATION OF POWER OF ATTORNEY.] 
    A certified copy of a power of attorney has the same force 
and effect as a power of attorney bearing the signature of the 
principal.  A copy of a power of attorney may be certified by an 
official of a state or of a political subdivision of a state who 
is authorized to make certifications.  The certification shall 
state that the certifying official has examined an original 
power of attorney and the copy and that the copy is a true and 
correct copy of the original power of attorney.  
    Sec. 9.  [523.07] [DURABLE POWER OF ATTORNEY.] 
    A power of attorney is durable if it contains language such 
as "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 is exercisable notwithstanding his later disability or 
incapacity.  
    Sec. 10.  [523.08] [TERMINATION OF A DURABLE POWER.] 
    A durable power of attorney terminates on the death of the 
principal or upon the expiration of a period of time specified 
in the power of attorney if the period ends prior to the death 
of the principal.  
    Sec. 11.  [523.09] [TERMINATION OF A NONDURABLE POWER OF 
ATTORNEY.] 
    A nondurable power of attorney terminates on the death of 
the principal, on the incompetency of the principal, or upon the 
expiration of a period of time specified in the power of 
attorney if the period ends prior to the death or incompetency 
of the principal.  
    Sec. 12.  [523.10] [MISSING PERSONS PRESUMED LIVING.] 
    For purposes of this chapter, a missing person is presumed 
to be living until actual proof of death or legal adjudication 
of death occurs.  
    Sec. 13.  [523.11] [REVOCATION OF A POWER.] 
    Subdivision 1.  [MANNER.] An executed power of attorney may 
be revoked only by a written instrument of revocation signed by 
the principal and, in the case of a signature on behalf of the 
principal by another or a signature by a mark, acknowledged by a 
notary public.  The conservator or guardian of the principal has 
the same power the prinicipal would have if the principal were 
not disabled or incompetent to revoke, suspend, or terminate all 
or any part of the power of attorney.  
    Subd. 2.  [EFFECT.] Revocation of an executed power of 
attorney is not effective as to any party unless that party has 
actual notice of the revocation.  As used in this chapter, 
"actual notice of revocation" means that a written instrument of 
revocation has been received by the party or, in a real property 
transaction, that a written instrument of revocation containing 
the legal description of the real property has been recorded in 
the office of the county recorder or filed in the office of the 
registrar of titles.  Recorded or filed revocation is actual 
notice of revocation of a power of attorney only as to any 
interest in real property described in the revocation and 
located in the county where it is recorded.  
    Subd. 3.  [PRESUMPTIONS.] A written instrument of 
revocation that purports to be signed by the principal named in 
the power of attorney is presumed to be valid.  Any party 
receiving the written instrument of revocation may rely on this 
presumption and is not liable for later refusing to accept the 
authority of the attorney-in-fact.  
    Subd. 4.  [TRANSFEREE AFFIDAVIT OF NONREVOCATION.] In the 
case of a conveyance of an interest in property, an affidavit 
signed by an initial transferee of the interest of the principal 
stating that the initial transferee had not received, at the 
time of the conveyance, a written instrument of revocation of 
the power of attorney, constitutes conclusive proof as to all 
subsequent transferees that no written instrument of revocation 
was received by the initial transferee, except as to a 
subsequent transferee who commits an intentional fraud.  
    Sec. 14.  [523.12] [POWER OF ATTORNEY-IN-FACT TO BIND 
PRINCIPAL.] 
    Any action taken by the attorney-in-fact pursuant to the 
power of attorney binds the principal, the principal's heirs and 
assigns, and the representative of the estate of the principal 
in the same manner as though the action was taken by the 
principal, and, during any time while a guardian or conservator 
has been appointed for the principal and only the guardian or 
conservator has the power to take relevant action, as though the 
action was taken by the guardian or conservator.  
    Sec. 15.  [523.13] [MULTIPLE ATTORNEYS-IN-FACT.] 
    Unless it is provided to the contrary in a power of 
attorney which authorizes two or more attorneys-in-fact to act 
on behalf of a principal, any action taken by any one of the 
several attorneys-in-fact pursuant to the power of attorney, 
whether the other attorneys-in-fact consent or object to the 
action, binds the principal, the principal's heirs and assigns, 
and the representative of the estate of the principal in the 
same manner as though the action was taken by the principal, 
and, during any time while a guardian or conservator has been 
appointed for the principal and only the guardian or conservator 
has the power to take the relevant action, as though the action 
was taken by the guardian or conservator.  
    Sec. 16.  [523.14] [SUCCESSOR ATTORNEY-IN-FACT NOT LIABLE 
FOR ACTS OF PREDECESSOR.] 
    An attorney-in-fact who is named in a power of attorney to 
succeed an attorney-in-fact who dies, resigns, or otherwise is 
unable to serve, is not liable for any action taken by the 
predecessor attorney-in-fact.  
    Sec. 17.  [523.15] [CO-ATTORNEYS-IN-FACT NOT LIABLE FOR 
ACTS OF EACH OTHER.] 
    When two or more attorneys-in-fact are authorized to act on 
behalf of a principal, an attorney-in-fact who did not join in 
or consent to the action of one or more co-attorneys-in-fact is 
not liable for that action.  Failure to object to an action is 
not consent.  
    Sec. 18.  [523.16] [AFFIDAVIT AS PROOF OF AUTHORITY OF 
ATTORNEY-IN-FACT.] 
    If the attorney-in-fact exercising a power pursuant to a 
power of attorney has authority to act as a result of the death, 
incompetency, or resignation of one or more attorneys-in-fact 
named in the power of attorney, an affidavit executed by the 
attorney-in-fact setting forth the conditions precedent to the 
attorney-in-fact's authority to act under the power of attorney 
and stating that those conditions have occurred is conclusive 
proof as to any party relying on the affidavit of the occurrence 
of those conditions.  
    Sec. 19.  [523.17] [AFFIDAVIT OF ATTORNEY-IN-FACT AS 
CONCLUSIVE PROOF OF NONTERMINATION AND NONREVOCATION IN REAL 
PROPERTY TRANSACTIONS.] 
    If the exercise of a power granted by a power of attorney 
relating to real property requires execution or delivery of any 
instrument which is recordable, an affidavit, signed by the 
attorney-in-fact, stating that the attorney-in-fact did not 
have, at the time of exercising a power pursuant to the power of 
attorney, actual knowledge of the termination of the power of 
attorney by the death of the principal, or, if the power of 
attorney is one which terminates upon the incompetence of the 
principal, actual knowledge of the principal's incompetence, or 
actual notice of the revocation of the power of attorney, is 
conclusive proof that the power of attorney had not terminated 
or been revoked at the time of the exercise of the power as to 
any party relying on the affidavit except any party dealing 
directly with the attorney-in-fact who has actual knowledge that 
the power of attorney had terminated prior to the exercise of 
the power or actual notice of the revocation of the power of 
attorney.  
    Sec. 20.  [523.18] [ATTORNEY-IN-FACT'S SIGNATURE AS 
CONCLUSIVE PROOF OF NONTERMINATION.] 
    In the exercise of a power granted by a power of attorney, 
other than in a transaction relating to real property described 
in section 19, a signature by a person as "attorney-in-fact for 
[Name of the Principal]" or "[Name of the Principal] by [Name of 
the attorney-in-fact] his/her attorney-in-fact" or any similar 
written disclosure of the principal and attorney-in-fact 
relationship constitutes an attestation by the attorney-in-fact 
that the attorney-in-fact did not have, at the time of signing, 
actual knowledge of the termination of the power of attorney by 
the death of the principal or, if the power is one which 
terminates upon incompetence of the principal, actual knowledge 
of the principal's incompetence, or actual notice of the 
revocation of the power of attorney, and is conclusive proof as 
to any party relying on the attestation that the power of 
attorney had not terminated or been revoked at the time of the 
signature by the attorney-in-fact on behalf of the principal 
except as to any party who has actual knowledge that the power 
of attorney had terminated prior to the signature or actual 
notice of the revocation of the power of attorney.  
    Sec. 21.  [523.19] [THIRD PARTIES HELD HARMLESS.] 
    Any party accepting the authority of an attorney-in-fact to 
exercise a power granted by a power of attorney is not liable to 
the principal, to the heirs and assigns of the principal, or to 
any representative of the estate of the principal if:  (1) the 
applicable provisions of sections 19 and 20 have been satisfied; 
(2) the provisions of section 18 have been satisfied, if 
applicable; (3) the party has no actual notice of the revocation 
of the power of attorney prior to the transaction; (4) the party 
has no actual knowledge of the death of the principal and, if 
the power of attorney is not a durable power of attorney, has 
not received actual notice of a judicial determination that the 
principal is legally incompetent; and (5) the duration of the 
power of attorney specified in the power of attorney itself, if 
any, has not expired.  A good faith purchaser from any party who 
has obtained an interest in property from an attorney-in-fact is 
not liable to the principal, the heirs or assigns of the 
principal, or the representative of the estate of the principal. 
    Sec. 22.  [523.20] [LIABILITY OF PARTIES REFUSING AUTHORITY 
OF ATTORNEY-IN-FACT TO ACT ON PRINCIPAL'S BEHALF.] 
    Any party refusing to accept the authority of an 
attorney-in-fact to exercise a power granted by a power of 
attorney which (1) is executed in conformity with section 25; 
(2) contains a specimen signature of the attorney-in-fact 
authorized to act; (3) with regard to the execution or delivery 
of any recordable instrument relating to real property, is 
accompanied by affidavits that satisfy the provisions of section 
19; (4) with regard to any other transaction, is signed by the 
attorney-in-fact in a manner conforming to section 20; and (5) 
when applicable, is accompanied by an affidavit and any other 
document required by section 18, is liable to the principal and 
to the principal's heirs, assigns, and representative of the 
estate of the principal in the same manner as the party would be 
liable had the party refused to accept the authority of the 
principal to act on his own behalf unless:  (1) the party has 
actual notice of the revocation of the power of attorney prior 
to the exercise of the power; (2) the duration of the power of 
attorney specified in the power of attorney itself has expired; 
or (3) the party has actual knowledge of the death of the 
principal or, if the power of attorney is not a durable power of 
attorney, actual notice of a judicial determination that the 
principal is legally incompetent.  This provision does not 
negate any liability which a party would have to the principal 
or to the attorney-in-fact under any other form of power of 
attorney under the common law or otherwise.  
    Sec. 23.  [523.21] [DUTIES OF AN ATTORNEY-IN-FACT.] 
    The attorney-in-fact shall keep complete records of all 
transactions entered into by the attorney-in-fact on behalf of 
the principal.  The attorney-in-fact has no duty to render an 
accounting of those transactions unless:  (1) requested to do so 
at any time by the principal; or (2) the instrument conferring 
the power of attorney requires that the attorney-in-fact render 
accountings and specifies to whom the accounting must be 
delivered.  The persons entitled to examine and copy the records 
of the attorney-in-fact are the principal and the guardian or 
conservator of the estate of the principal while the principal 
is living and the personal representative of the estate of the 
principal after the death of the principal.  The 
attorney-in-fact has no affirmative duty to exercise any power 
conferred upon the attorney-in-fact under the power of 
attorney.  In exercising any power conferred by the power of 
attorney, the attorney-in-fact shall exercise the power in the 
same manner as an ordinarily prudent person of discretion and 
intelligence would exercise in the management of the person's 
own affairs and shall have the interests of the principal utmost 
in mind.  The attorney-in-fact is personally liable to any 
person, including the principal, who is injured by an action 
taken by the attorney-in-fact in bad faith under the power of 
attorney.  
    Sec. 24.  [523.22] [LIABILITY OF ATTORNEY-IN-FACT FOR 
IMPROPER EXECUTION OF AFFIDAVITS AND SIGNATURE.] 
    Nothing in sections 3 to 27 limits any rights the principal 
may have against the attorney-in-fact for any fraudulent or 
negligent actions in executing affidavits or signing or acting 
on behalf of the principal as an attorney-in-fact.  An 
attorney-in-fact who knowingly executes a false affidavit or, 
knowing that the conditions of section 20 are not satisfied, 
signs on behalf of the principal is liable for treble the amount 
of damages suffered by the principal.  
    Sec. 25.  [523.23] [STATUTORY SHORT FORM OF GENERAL POWER 
OF ATTORNEY; FORMAL REQUIREMENTS; JOINT AGENTS.] 
    Subdivision 1.  [FORM.] The use of the following form in 
the creation of a power of attorney is lawful, and, when used, 
it shall be construed in accordance with the provisions of 
sections 25 and 26:  
NOTICE:  THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND 
SWEEPING.  THEY ARE DEFINED IN SECTION 26.  IF YOU HAVE ANY 
QUESTIONS ABOUT THESE POWERS, OBTAIN COMPETENT ADVICE.  THE USE 
OF ANY OTHER OR DIFFERENT FORM OF POWER OF ATTORNEY DESIRED BY 
THE PARTIES IS ALSO PERMITTED.  THIS POWER OF ATTORNEY MAY BE 
REVOKED BY YOU IF YOU LATER WISH TO DO SO.  THIS POWER OF 
ATTORNEY AUTHORIZES THE ATTORNEY-IN-FACT TO ACT FOR YOU BUT DOES 
NOT REQUIRE THAT HE OR SHE DO SO.  
    Know All Men by These Presents, which are intended to 
constitute a STATUTORY SHORT FORM POWER OF ATTORNEY pursuant to 
Chapter ...., Section ...., of Minnesota Law:  
    That I .................... (insert name and address of the 
principal) do hereby appoint .................... (insert name 
and address of the attorney-in-fact, or each attorney-in-fact, 
if more than one is designated) my attorney(s)-in-fact to act 
(jointly):  
    (NOTE:  If more than one attorney-in-fact is designated and 
the principal wishes each attorney-in-fact alone to be able to 
exercise the power conferred, delete the word "jointly." Failure 
to delete the word "jointly" will require the attorneys-in-fact 
to act unanimously.) 
    First:  in my name, place and stead in any way which I 
myself could do, if I were personally present, with respect to 
the following matters as each of them is defined in section 26:  
    [TO GRANT TO THE ATTORNEY-IN-FACT ANY OF THE FOLLOWING 
POWERS, MAKE A CHECK OR "X" IN THE LINE IN FRONT OF EACH POWER 
BEING GRANTED.  TO DELETE ANY OF THE FOLLOWING POWERS, DO NOT 
MAKE A CHECK OR "X" IN THE LINE IN FRONT OF THE POWER.  YOU MAY, 
BUT NEED NOT, CROSS OUT EACH POWER BEING DELETED WITH A LINE 
DRAWN THROUGH IT (OR IN SIMILAR FASHION).  FAILURE TO MAKE A 
CHECK OR "X" IN THE LINE IN FRONT OF THE POWER WILL HAVE THE 
EFFECT OF DELETING THE POWER UNLESS THE LINE IN FRONT OF THE 
POWER OF (O) IS CHECKED OR X-ED.] 
Check or "x"
.......  (A)  real property transactions; 
.......  (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 other matters; 
.......  (O)  all of the powers listed in
              (A) through (N) above.
    Second:  [YOU MUST INDICATE BELOW WHETHER OR NOT THIS POWER 
OF ATTORNEY WILL BE EFFECTIVE IF YOU BECOME INCOMPETENT.  MAKE A 
CHECK OR "X" IN THE LINE IN FRONT OF THE STATEMENT THAT 
EXPRESSES YOUR INTENT.] 
    .....  This power of attorney shall continue
           to be effective if I become incompetent.
           It shall not be affected by my later
           disability or incompetency.
    .....  This power of attorney shall not be
           effective if I become incompetent.
    Third:  [YOU MUST INDICATE BELOW WHETHER OR NOT THIS POWER 
OF ATTORNEY AUTHORIZES THE ATTORNEY-IN-FACT TO TRANSFER YOUR 
PROPERTY DIRECTLY TO HIMSELF OR HERSELF.  MAKE A CHECK OR "X" IN 
THE LINE IN FRONT OF THE STATEMENT THAT EXPRESSES YOUR INTENT.] 
    .....  This power of attorney authorizes the
           attorney-in-fact to transfer property
           directly to himself or herself.
    .....  This power of attorney does not author-
           ize the attorney-in-fact to transfer
           property directly to himself or herself.
    In Witness Whereof I have hereunto signed my name this 
......... day of ..................., 19...  
                                      ...................... 
                                     (Signature of Principal) 
[Acknowledgment] 
                   Specimen Signature of Attorney(s)-in-Fact 
                              ......................... 
                              ......................... 
    Subd. 2.  [FAILURE TO CHECK OR "X" A POWER.] Any of the 
powers of the form in subdivision 1 which is not checked or X-ed 
is withheld by the principal from the attorney-in-fact unless 
the power of (O) of the form in subdivision 1 is checked or 
X-ed.  The withholding by the principal from the 
attorney-in-fact of any of the powers of (A) to (M), in addition 
to the withholding of the power of (O), of the form in 
subdivision 1 automatically constitutes withholding of the 
powers of (N).  
    Subd. 3.  [REQUIREMENTS.] To constitute a "statutory short 
form power of attorney," as this phrase is used in this chapter 
the wording and content of the form in subdivision 1 must be 
duplicated exactly, the NOTICES must appear in a conspicuous 
place and manner, parts Second and Third must be properly 
completed, and the signature of the principal must be 
acknowledged.  
    Subd. 4.  [POWERS OF ATTORNEY-IN-FACT.] All powers 
enumerated in section 26 may be legally performed by an 
attorney-in-fact acting on behalf of a principal.  
    Sec. 26.  [523.24] [CONSTRUCTION.] 
    Subdivision 1.  [REAL PROPERTY TRANSACTIONS.] In a 
statutory short form power of attorney, the language conferring 
general authority with respect to real estate transactions, 
means that the principal authorizes the attorney-in-fact:  
    (1) to accept as a gift, or as security for a loan, to 
reject, to demand, to buy, to lease, to receive, or otherwise to 
acquire either ownership or possession of any estate or interest 
in real property;  
    (2) to sell, exchange, convey either with or without 
convenants, quitclaim, release, surrender, mortgage, encumber, 
partition or consent the partitioning, plat or consent platting, 
grant options concerning, lease or sublet, or otherwise to 
dispose of, any estate or interest in real property;  
    (3) to release in whole or in part, assign the whole or a 
part of, satisfy in whole or in part, and enforce by action, 
proceeding or otherwise, any mortgage, encumbrance, lien, or 
other claim to real property which exists, or is claimed to 
exist, in favor of the principal;  
    (4) to do any act of management or of conservation with 
respect to any estate or interest in real property owned, or 
claimed to be owned, by the principal, including by way of 
illustration, but not of restriction, power to insure against 
any casualty, liability, or loss, to obtain or regain possession 
or protect such estate or interest by action, proceeding or 
otherwise, to pay, compromise or contest taxes or assessments, 
to apply for and receive refunds in connection therewith, to 
purchase supplies, hire assistance or labor, and make repairs or 
alterations in the structures or lands;  
    (5) to use in any way, develop, modify, alter, replace, 
remove, erect, or install structures or other improvements upon 
any real property in which the principal has, or claims to have, 
any estate or interest;  
    (6) to demand, receive, obtain by action, proceeding, or 
otherwise, any money, or other thing of value to which the 
principal is, or may become, or may claim to be entitled as the 
proceeds of an interest in real property or of one or more of 
the transactions enumerated in this subdivision, to conserve, 
invest, disburse, or utilize anything so received for purposes 
enumerated in this subdivision, and to reimburse the 
attorney-in-fact for any expenditures properly made by the 
attorney-in-fact in the execution of the powers conferred on the 
attorney-in-fact by the statutory short form power of attorney;  
    (7) to participate in any reorganization with respect to 
real property and receive and hold any shares of stock or 
instrument of similar character received in accordance with a 
plan of reorganization, and to act with respect to the shares, 
including, by way of illustration but not of restriction, power 
to sell or otherwise to dispose of the shares, or any of them, 
to exercise or sell any option, conversion or similar right with 
respect to the shares, and to vote on the shares in person or by 
the granting of a proxy;  
    (8) to agree and contract, in any manner, and with any 
person and on any terms, which the attorney-in-fact may select, 
for the accomplishment of any of the purposes enumerated in this 
subdivision, and to perform, rescind, reform, release, or modify 
such an agreement or contract or any other similar agreement or 
contract made by or on behalf of the principal;  
    (9) to execute, acknowledge, seal, and deliver any deed, 
revocation, mortgage, lease, notice, check, or other instrument 
which the attorney-in-fact deems useful for the accomplishment 
of any of the purposes enumerated in this subdivision;  
    (10) to prosecute, defend, submit to arbitration, settle, 
and propose or accept a compromise with respect to, any claim 
existing in favor of, or against, the principal based on or 
involving any real estate transaction or to intervene in any 
action or proceeding relating to the claim;  
    (11) to hire, discharge, and compensate any attorney, 
accountant, expert witness, or other assistant or assistants 
when the attorney-in-fact deems that action to be desirable for 
the proper execution of any of the powers described in this 
subdivision, and for the keeping of needed records; and 
    (12) in general, and in addition to all the specific acts 
in this subdivision, to do any other act with respect to any 
estate or interest in real property.  
    All powers described in this subdivision are exercisable 
equally with respect to any estate or interest in real property 
owned by the principal at the giving of the power of attorney or 
acquired after that time, and whether located in the state of 
Minnesota or elsewhere.  
    Subd. 2.  [TANGIBLE PERSONAL PROPERTY TRANSACTIONS.] In a 
statutory short form power of attorney, the language conferring 
general authority with respect to tangible personal property 
transactions, means that the principal authorizes the 
attorney-in-fact:  
    (1) to accept as a gift, or as security for a loan, reject, 
demand, buy, receive, or otherwise to acquire either ownership 
or possession of any tangible personal property or any interest 
in tangible personal property;  
    (2) to sell, exchange, convey either with or without 
convenants, release, surrender, mortgage, encumber, pledge, 
hypothecate, pawn, grant options concerning, lease or sublet to 
others, or otherwise to dispose of any tangible personal 
property or any interest in any tangible personal property;  
    (3) to release in whole or in part, assign the whole or a 
part of, satisfy in whole or in part, and enforce by action, 
proceeding or otherwise, any mortgage, encumbrance, lien, or 
other claim, which exists, or is claimed to exist, in favor of 
the principal, with respect to any tangible personal property or 
any interest in tangible personal property;  
    (4) to do any act of management or of conservation, with 
respect to any tangible personal property or to any interest in 
any tangible personal property owned, or claimed to be owned, by 
the principal, including by way of illustration, but not of 
restriction, power to insure against any casualty, liability, or 
loss, to obtain or regain possession, or protect the tangible 
personal property or interest in any tangible personal property, 
by action, proceeding, or otherwise, to pay, compromise, or 
contest taxes or assessments, to apply for and receive refunds 
in connection with taxes or assessments, move from place to 
place, store for hire or on a gratuitous bailment, use, alter, 
and make repairs or alterations of any tangible personal 
property, or interest in any tangible personal property;  
    (5) to demand, receive, or obtain by action, proceeding, or 
otherwise any money or other thing of value to which the 
principal is, or may become, or may claim to be entitled as the 
proceeds of any tangible personal property or of any interest in 
any tangible personal property, or of one or more of the 
transactions enumerated in this subdivision, to conserve, 
invest, disburse or utilize anything so received for purposes 
enumerated in this subdivision, and to reimburse the 
attorney-in-fact for any expenditures properly made by the 
attorney-in-fact in the execution of the powers conferred on the 
attorney-in-fact by the statutory short form power of attorney;  
    (6) to agree and contract in any manner and with any person 
and on any terms which the attorney-in-fact may select, for the 
accomplishment of any of the purposes enumerated in this 
subdivision, and to perform, rescind, reform, release, or modify 
any agreement or contract or any other similar agreement or 
contract made by or on behalf of the principal;  
    (7) to execute, acknowledge, seal, and deliver any 
conveyance, mortgage, lease, notice, check, or other instrument 
which the attorney-in-fact deems useful for the accomplishment 
of any of the purposes enumerated in this subdivision;  
    (8) to prosecute, defend, submit to arbitration, settle, 
and propose or accept a compromise with respect to any claim 
existing in favor of or against the principal based on or 
involving any tangible personal property transaction or to 
intervene in any action or proceeding relating to such a claim;  
    (9) to hire, discharge, and compensate any attorney, 
accountant, expert witness, or other assistant when the 
attorney-in-fact deems that action to be desirable for the 
proper execution by the attorney-in-fact of any of the powers 
described in this subdivision, and for the keeping of needed 
records; and 
    (10) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other acts with respect to 
any tangible personal property or interest in any tangible 
personal property.  
    All powers described in this subdivision are exercisable 
equally with respect to any tangible personal property or 
interest in any tangible personal property owned by the 
principal at the giving of the power of attorney or acquired 
after that time, and whether located in the state of Minnesota 
or elsewhere.  
    Subd. 3.  [BOND, SHARE, AND COMMODITY TRANSACTIONS.] In a 
statutory short form power of attorney, the language conferring 
general authority with respect to bond, share, and commodity 
transactions means that the principal authorizes the 
attorney-in-fact:  
    (1) to accept as a gift or as security for a loan, reject, 
demand, buy, receive, or otherwise to acquire either ownership 
or possession of any bond, share, instrument of similar 
character, commodity interest, or any instrument with respect to 
the bond, share, or interest, together with the interest, 
dividends, proceeds, or other distributions connected with any 
of those instruments;  
    (2) to sell or sell short and to exchange, transfer either 
with or without a guaranty, release, surrender, hypothecate, 
pledge, grant options concerning, loan, trade in, or otherwise 
to dispose of any bond, share, instrument of similar character, 
commodity interest, or any instrument with respect to the bond, 
share, or interest;  
    (3) to release in whole or in part, assign the whole or a 
part of, satisfy in whole or in part, and enforce by action, 
proceeding or otherwise, any pledge, encumbrance, lien, or other 
claim as to any bond, share, instrument of similar character, 
commodity interest or any interest with respect to the bond, 
share, or interest, when the pledge, encumbrance, lien, or other 
claim is owned, or claimed to be owned, by the principal;  
    (4) to do any act of management or of conservation with 
respect to any bond, share, instrument of similar character, 
commodity interest or any instrument with respect thereto, owned 
or claimed to be owned by the principal or in which the 
principal has or claims to have an interest, including by way of 
illustration but not of restriction, power to insure against any 
casualty, liability, or loss, to obtain or regain possession or 
protect the principal's interest therein by action, proceeding 
or otherwise, to pay, compromise or contest taxes or 
assessments, to apply for and receive refunds in connection with 
taxes or assessments, to consent to and participate in any 
reorganization, recapitalization, liquidation, merger, 
consolidation, sale or lease, or other change in or revival of a 
corporation or other association, or in the financial structure 
of any corporation or other association, or in the priorities, 
voting rights, or other special rights with respect to the 
corporation or association, to become a depositor with any 
protective, reorganization, or similar committee of the bond, 
share, other instrument of similar character, commodity 
interest, or any instrument with respect to the bond, share, or 
interest, belonging to the principal, to make any payments 
reasonably incident to the foregoing, to exercise or sell any 
option, conversion, or similar right, to vote in person or by 
the granting of a proxy with or without the power of 
substitution, either discretionary, general or otherwise, for 
the accomplishment of any of the purposes enumerated in this 
subdivision;  
    (5) to carry in the name of a nominee selected by the 
attorney-in-fact any evidence of the ownership of any bond, 
share, other instrument of similar character, commodity 
interest, or instrument with respect to the bond, share, or 
interest, belonging to the principal;  
    (6) to employ, in any way believed to be desirable by the 
attorney-in-fact, any bond, share, other instrument of similar 
character, commodity interest, or any instrument with respect to 
the bond, share, or interest, in which the principal has or 
claims to have any interest, for the protection or continued 
operation of any speculative or margin transaction personally 
begun or personally guaranteed, in whole or in part, by the 
principal;  
    (7) to demand, receive, or obtain by action, proceeding or 
otherwise, any money or other thing of value to which the 
principal is, or may become, or may claim to be entitled as the 
proceeds of any interest in a bond, share, other instrument of 
similar character, commodity interest, or any instrument with 
respect to the bond, share, or interest, or of one or more of 
the transactions enumerated in this subdivision, to conserve, 
invest, disburse, or utilize anything so received for purposes 
enumerated in this subdivision, and to reimburse the 
attorney-in-fact for any expenditures properly made by the 
attorney-in-fact in the execution of the powers conferred on the 
attorney-in-fact by the statutory short form power of attorney;  
    (8) to agree and contract, in any manner, with any broker 
or other person, and on any terms which the attorney-in-fact 
selects, for the accomplishment of any of the purposes 
enumerated in this subdivision, and to perform, rescind, reform, 
release, or modify the agreement or contract or any other 
similar agreement made by or on behalf of the principal;  
    (9) to execute, acknowledge, seal, and deliver any consent, 
agreement, authorization, assignment, revocation, notice, waiver 
of notice, check, or other instrument which the attorney-in-fact 
deems useful for the accomplishment of any of the purposes 
enumerated in this subdivision;  
    (10) to execute, acknowledge, and file any report or 
certificate required by law or governmental regulation;  
    (11) to prosecute, defend, submit to arbitration, settle, 
and propose or accept a compromise with respect to, any claim 
existing in favor of or against the principal based on or 
involving any bond, share, or commodity transaction or to 
intervene in any related action or proceeding;  
    (12) to hire, discharge, and compensate any attorney, 
accountant, expert witness or other assistant or assistants when 
the attorney-in-fact deems that action to be desirable for the 
proper execution of any of the powers described in this 
subdivision, and for the keeping of needed records; and 
    (13) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other acts with respect to 
any interest in any bond, share, other instrument of similar 
character, commodity, or instrument with respect to a commodity. 
    All powers described in this subdivision are exercisable 
equally with respect to any interest in any bond, share or other 
instrument of similar character, commodity, or instrument with 
respect to a commodity owned by the principal at the giving of 
the power of attorney or acquired after that time, whether 
located in the state of Minnesota or elsewhere.  
    Subd. 4.  [BANKING TRANSACTIONS.] In a statutory short form 
power of attorney, the language conferring general authority 
with respect to banking transactions, means that the principal 
authorizes the attorney-in-fact:  
    (1) to continue, modify, and terminate any deposit account 
or other banking arrangement made by or on behalf of the 
principal prior to the execution of the power of attorney;  
    (2) to open in the name of the principal alone, or in a way 
that clearly evidences the principal and attorney-in-fact 
relationship, a deposit account of any type with any bank, trust 
company, savings and loan association, credit union, thrift 
company, brokerage firm, or other institution which serves as a 
depository for funds selected by the attorney-in-fact, to hire 
safe deposit box or vault space and to make other contracts for 
the procuring of other services made available by the banking 
institution as the attorney-in-fact deems desirable;  
    (3) to make, sign, and deliver checks or drafts for any 
purpose, to withdraw by check, order, or otherwise any funds or 
property of the principal deposited with or left in the custody 
of any banking institution, wherever located, either before or 
after the execution of the power of attorney;  
    (4) to prepare any necessary financial statements of the 
assets and liabilities or income and expenses of the principal 
for submission to any banking institution;  
    (5) to receive statements, vouchers, notices, or other 
documents from any banking institution and to act with respect 
to them;  
    (6) to enter at any time any safe deposit box or vault 
which the principal could enter if personally present;  
    (7) to borrow money at any interest rate the 
attorney-in-fact selects, to pledge as security any assets of 
the principal the attorney-in-fact deems desirable or necessary 
for borrowing, to pay, renew, or extend the time of payment of 
any debt of the principal;  
    (8) to make, assign, draw, endorse, discount, guarantee, 
and negotiate, all promissory notes, bills of exchange, checks, 
drafts, or other negotiable or nonnegotiable paper of the 
principal, or payable to the principal or his order, to receive 
the cash or other proceeds of any of those transactions, to 
accept any bill of exchange or draft drawn by any person upon 
the principal, and to pay it when due;  
    (9) to receive for the principal and to deal in and to deal 
with any sight draft, warehouse receipt, or other negotiable or 
nonnegotiable instrument in which the principal has or claims to 
have an interest;  
    (10) to apply for and to receive letters of credit from any 
banking institution selected by the attorney-in-fact, giving 
indemnity or other agreement in connection with the letters of 
credit which the attorney-in-fact deems desirable or necessary;  
    (11) to consent to an extension in the time of payment with 
respect to any commercial paper or any banking transaction in 
which the principal has an interest or by which the principal 
is, or might be, affected in any way;  
    (12) to demand, receive, obtain by action, proceeding, or 
otherwise any money or other thing of value to which the 
principal is, or may become, or may claim to be entitled as the 
proceeds of any banking transaction, and to reimburse the 
attorney-in-fact for any expenditures properly made in the 
execution of the powers conferred upon the attorney-in-fact by 
the statutory short form power of attorney;  
    (13) to execute, acknowledge, and deliver any instrument of 
any kind, in the name of the principal or otherwise, which the 
attorney-in-fact deems useful for the accomplishment of any of 
the purposes enumerated in this subdivision;  
    (14) to prosecute, defend, submit to arbitration, settle, 
and propose or accept a compromise with respect to any claim 
existing in favor of or against the principal based on or 
involving any banking transaction or to intervene in any related 
action or proceeding;  
    (15) to hire, discharge, and compensate any attorney, 
accountant, expert witness, or other assistant when the 
attorney-in-fact deems that action to be desirable for the 
proper execution of any of the powers described in this 
subdivision, and for the keeping of needed records; and 
    (16) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other acts in connection 
with any banking transaction which does or might in any way 
affect the financial or other interests of the principal.  
    All powers described in this subdivision are exercisable 
equally with respect to any banking transaction engaged in by 
the principal at the giving of the power of attorney or engaged 
in after that time, and whether conducted in the state of 
Minnesota or elsewhere.  
     Subd. 5.  [BUSINESS OPERATING TRANSACTIONS.] In a statutory 
short form power of attorney, the language conferring general 
authority with respect to business operating transactions, means 
that the principal authorizes the attorney-in-fact:  
    (1) to discharge and perform any duty or liability and also 
to exercise any right, power, privilege, or option which the 
principal has, or claims to have, under any partnership 
agreement whether the principal is a general or limited partner, 
to enforce the terms of a partnership agreement for the 
protection of the principal, by action, proceeding, or 
otherwise, as the attorney-in-fact deems desirable or necessary, 
and to defend, submit to arbitration, settle, or compromise any 
action or other legal proceeding to which the principal is a 
party because of his membership in the partnership;  
    (2) to exercise in person or by proxy or to enforce by 
action, proceeding, or otherwise, any right, power, privilege, 
or option which the principal has as the holder of any bond, 
share, or other instrument of similar character and to defend, 
submit to arbitration, settle or compromise any action or other 
legal proceeding to which the principal is a party because of a 
bond, share, or other instrument of similar character;  
    (3) with respect to any business enterprise which is owned 
solely by the principal:  
     (a) to continue, modify, renegotiate, extend, and terminate 
any contractual arrangements made with any person or entity, 
firm, association, or corporation by or on behalf of the 
principal with respect to the business enterprise prior to the 
granting of the power of attorney;  
     (b) to determine the policy of the business enterprise as 
to the location of the site or sites to be used for its 
operation, the nature and extent of the business to be 
undertaken by it, the methods of manufacturing, selling, 
merchandising, financing, accounting, and advertising to be 
employed in its operation, the amount and types of insurance to 
be carried, the mode of securing, compensating, and dealing with 
accountants, attorneys, servants, and other agents and employees 
required for its operation, and to agree and to contract in any 
manner, with any person, and on any terms which the 
attorney-in-fact deems desirable or necessary for effectuating 
any or all of the decisions of the attorney-in-fact as to 
policy, and to perform, rescind, reform, release, or modify the 
agreement or contract or any other similar agreement or contract 
made by or on behalf of the principal;  
    (c) to change the name or form of organization under which 
the business enterprise is operated and to enter into a 
partnership agreement with other persons or to organize a 
corporation to take over the operation of the business or any 
part of the business, as the attorney-in-fact deems desirable or 
necessary;  
    (d) to demand and receive all money which is or may become 
due to the principal or which may be claimed by the principal or 
on his behalf in the operation of the business enterprise, and 
to control and disburse the funds in the operation of the 
enterprise in any way which the attorney-in-fact deems desirable 
or necessary, and to engage in any banking transactions which 
the attorney-in-fact deems desirable or necessary for 
effectuating the execution of any of the powers of the 
attorney-in-fact described in clauses (a) to (d);  
    (4) to prepare, sign, file, and deliver all reports, 
compilations of information, returns, or other papers with 
respect to any business operating transaction of the principal, 
which are required by any governmental agency, department, or 
instrumentality or which the attorney-in-fact deems desirable or 
necessary for any purpose, and to make any related payments;  
    (5) to pay, compromise, or contest taxes or assessments and 
to do any act or acts which the attorney-in-fact deems desirable 
or necessary to protect the principal from illegal or 
unnecessary taxation, fines, penalties, or assessments in 
connection with his business operations, including power to 
attempt to recover, in any manner permitted by law, sums paid 
before or after the execution of the power of attorney as taxes, 
fines, penalties, or assessments;  
    (6) to demand, receive, obtain by action, proceeding, or 
otherwise, any money or other thing of value to which the 
principal is, may become, or may claim to be entitled as the 
proceeds of any business operation of the principal, to 
conserve, to invest, to disburse, or to use anything so received 
for purposes enumerated in this subdivision, and to reimburse 
the attorney-in-fact for any expenditures properly made by the 
attorney-in-fact in the execution of the powers conferred upon 
the attorney-in-fact by the statutory short form power of 
attorney;  
    (7) to execute, acknowledge, seal, and deliver any deed, 
assignment, mortgage, lease, notice, consent, agreement, 
authorization, check, or other instrument which the 
attorney-in-fact deems useful for the accomplishment of any of 
the purposes enumerated in this subdivision;  
    (8) to prosecute, defend, submit to arbitration, settle, 
and propose or accept a compromise with respect to, any claim 
existing in favor of, or against, the principal based on or 
involving any business operating transaction or to intervene in 
any related action or proceeding;  
    (9) to hire, discharge, and compensate any attorney, 
accountant, expert witness, or other assistant when the 
attorney-in-fact deems that action to be desirable for the 
proper execution by the attorney-in-fact of any of the powers 
described in this subdivision, and for the keeping of needed 
records; and 
    (10) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other act which the 
attorney-in-fact deems desirable or necessary for the 
furtherance or protection of the interests of the principal in 
any business.  
    All powers described in this subdivision are exercisable 
equally with respect to any business in which the principal is 
interested at the time of giving of the power of attorney or in 
which the principal becomes interested after that time, and 
whether operated in the state of Minnesota or elsewhere.  
    Subd. 6.  [INSURANCE TRANSACTIONS.] In a statutory short 
form power of attorney, the language conferring general 
authority with respect to insurance transactions, means that the 
principal authorizes the attorney-in-fact:  
    (1) to continue, pay the premium or assessment on, modify, 
rescind, release, or terminate any contract of life, accident, 
health, or disability insurance or for the provision of health 
care services, or any combination of these contracts procured by 
or on behalf of the principal prior to the granting of the power 
of attorney which insures either the principal or any other 
person, without regard to whether the principal is or is not a 
beneficiary under the contract;  
    (2) to procure new, different, or additional contracts of 
life, accident, health, or disability insurance for the 
principal or for provision of health care services for the 
principal, to select the amount, the type of insurance and the 
mode of payment under each contract, to pay the premium or 
assessment on, modify, rescind, release or terminate, any 
contract so procured by the attorney-in-fact, and to designate 
the beneficiary of the contract, provided, however, that the 
attorney-in-fact cannot be named a beneficiary except, if 
permitted under subdivision 8, the attorney-in-fact can be named 
the beneficiary of death benefit proceeds under an insurance 
contract, or, if the attorney-in-fact was named as a beneficiary 
under the contract which was procured by the principal prior to 
the granting of the power of attorney, then the attorney-in-fact 
can continue to be named as the beneficiary under the contract 
or under any extension or renewal of or substitute for the 
contract;  
    (3) to apply for and receive any available loan on the 
security of the contract of insurance, whether for the payment 
of a premium or for the procuring of cash, to surrender and then 
to receive the cash surrender value, to exercise any election as 
to beneficiary or mode of payment, to change the manner of 
paying premiums, to change or convert the type of insurance 
contract, with respect to any contract of life, accident, 
health, disability, or liability insurance as to which the 
principal has, or claims to have, any one or more of the powers 
described in this subdivision and to change the beneficiary of 
the contract of insurance, provided, however, that the 
attorney-in-fact cannot be a new beneficiary except, if 
permitted under subdivision 8, the attorney-in-fact can be the 
beneficiary of death benefit proceeds under an insurance 
contract, or, if the attorney-in-fact was named as a beneficiary 
under the contract which was procured by the principal prior to 
the granting of the power of attorney, then the attorney-in-fact 
can continue to be named as the beneficiary under the contract 
or under any extension or renewal of or substitute for the 
contract;  
    (4) to demand, receive, obtain by action, proceeding, or 
otherwise, any money, dividend, or other thing of value to which 
the principal is, or may become, or may claim to be entitled as 
the proceeds of any contract of insurance or of one or more of 
the transactions enumerated in this subdivision, to conserve, 
invest, disburse, or utilize anything so received for purposes 
enumerated in this subdivision, and to reimburse the 
attorney-in-fact for any expenditures properly made by the 
attorney-in-fact in the execution of the powers conferred on the 
attorney-in-fact by the statutory short form power of attorney;  
    (5) to apply for and procure any available governmental aid 
in the guaranteeing or paying of premiums of any contract of 
insurance on the life of the principal;  
    (6) to sell, assign, hypothecate, borrow upon, or pledge 
the interest of the principal in any contract of insurance;  
    (7) to pay from any proceeds or otherwise, compromise, or 
contest, and to apply for refunds in connection with, any tax or 
assessment levied by a taxing authority with respect to any 
contract of insurance or the proceeds of the refunds or 
liability accruing by reason of the tax or assessment;  
    (8) to agree and contract in any manner, with any person, 
and on any terms which the attorney-in-fact selects for the 
accomplishment of any of the purposes enumerated in this 
subdivision, and to perform, rescind, reform, release, or modify 
the agreement or contract;  
    (9) to execute, acknowledge, seal, and deliver any consent, 
demand, request, application, agreement, indemnity, 
authorization, assignment, pledge, notice, check, receipt, 
waiver, or other instrument which the attorney-in-fact deems 
useful for the accomplishment of any of the purposes enumerated 
in this subdivision;  
    (10) to continue, procure, pay the premium or assessment 
on, modify, rescind, release, terminate, or otherwise deal with 
any contract of insurance, other than those enumerated in clause 
(1) or (2), whether fire, marine, burglary, compensation, 
liability, hurricane, casualty, or other type, or any 
combination of insurance, to do any act or acts with respect to 
the contract or with respect to its proceeds or enforcement 
which the attorney-in-fact deems desirable or necessary for the 
promotion or protection of the interests of the principal;  
    (11) to prosecute, defend, submit to arbitration, settle, 
and propose or accept a compromise with respect to any claim 
existing in favor of or against the principal based on or 
involving any insurance transaction or to intervene in any 
related action or proceeding;  
    (12) to hire, discharge, and compensate any attorney, 
accountant, expert witness, or other assistants when the 
attorney-in-fact deems the action to be desirable for the proper 
execution by the attorney-in-fact of any of the powers described 
in this subdivision and for the keeping of needed records; and 
    (13) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other acts in connection 
with procuring, supervising, managing, modifying, enforcing, and 
terminating contracts of insurance or for the provisions of 
health care services in which the principal is the insured or is 
otherwise in any way interested.  
    All powers described in this subdivision are exercisable 
with respect to any contract of insurance or for the provision 
of health care service in which the principal is in any way 
interested, whether made in the state of Minnesota or elsewhere. 
    Subd. 7.  [BENEFICIARY TRANSACTIONS.] In the statutory 
short form power of attorney, the language conferring general 
authority with respect to beneficiary transactions, means that 
the principal authorizes the attorney-in-fact:  
    (1) to represent and act for the principal in all ways and 
in all matters affecting any trust, probate estate, 
guardianship, conservatorship, escrow, custodianship, or other 
fund out of which the principal is entitled, or claims to be 
entitled, as a beneficiary, to some share or payment, including, 
but not limited to the following:  
     (a) to accept, reject, disclaim, receive, receipt for, 
sell, assign, release, pledge, exchange, or consent to a 
reduction in or modification of any share in or payment from the 
fund;  
    (b) to demand or obtain by action, proceeding, or otherwise 
any money or other thing of value to which the principal is, may 
become, or may claim to be entitled by reason of the fund, to 
initiate, to participate in, and to oppose any proceeding, 
judicial, or otherwise, for the ascertainment of the meaning, 
validity, or effect of any deed, declaration of trust, or other 
transaction affecting in any way the interest of the principal, 
to initiate, participate in, and oppose any proceeding, judicial 
or otherwise, for the removal, substitution, or surcharge of a 
fiduciary, to conserve, invest, disburse, or use anything so 
received for purposes listed in this subdivision, and to 
reimburse the attorney-in-fact for any expenditures properly 
made by the attorney-in-fact in the execution of the powers 
conferred on the attorney-in-fact by the statutory short form 
power of attorney;  
     (c) to prepare, sign, file, and deliver all reports, 
compilations of information, returns, or papers with respect to 
any interest had or claimed by or on behalf of the principal in 
the fund, to pay, compromise, or contest, and apply for and 
receive refunds in connection with, any tax or assessment, with 
respect to any interest had or claimed by or on behalf of the 
principal in the fund or with respect to any property in which 
an interest is had or claimed;  
    (d) to agree and contract in any manner, with any person, 
and on any terms the attorney-in-fact selects, for the 
accomplishment of the purposes listed in this subdivision, and 
to perform, rescind, reform, release, or modify the agreement or 
contract or any other similar agreement or contract made by or 
on behalf of the principal;  
    (e) to execute, acknowledge, verify, seal, file, and 
deliver any deed, assignment, mortgage, lease, consent, 
designation, pleading, notice, demand, election, conveyance, 
release, assignment, check, pledge, waiver, admission of 
service, notice of appearance, or other instrument which the 
attorney-in-fact deems useful for the accomplishment of any of 
the purposes enumerated in this subdivision;  
     (f) to submit to arbitration or settle and propose or 
accept a compromise with respect to any controversy or claim 
which affects the administration of the fund, in any one of 
which the principal has, or claims to have, an interest, and to 
do any and all acts which the attorney-in-fact deems to be 
desirable or necessary in effectuating the compromise;  
    (g) to hire, discharge, and compensate any attorney, 
accountant, expert witness, or other assistant, when the 
attorney-in-fact deems that action to be desirable for the 
proper execution by the attorney-in-fact of any of the powers 
described in this subdivision, and for the keeping of needed 
records;  
    (h) to transfer any part or all of any interest which the 
principal may have in any interests in real estate, stocks, 
bonds, bank accounts, insurance, and any other assets of any 
kind and nature, to the trustee of any revocable trust created 
by the principal as grantor.  
    For the purposes of clauses (a) to (h), "the fund" means 
any trust, probate estate, guardianship, conservatorship, 
escrow, custodianship, or any other fund in which the principal 
has or claims to have an interest.  
    (2) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other acts with respect to 
the administration of a trust, probate estate, guardianship, 
conservatorship, escrow, custodianship, or other fund, in which 
the principal has, or claims to have, an interest as a 
beneficiary. 
     All powers described in this subdivision are exercisable 
equally with respect to the administration or disposition of any 
trust, probate estate, guardianship, conservatorship, escrow, 
custodianship, or other fund in which the principal is 
interested at the giving of the power of attorney or becomes 
interested after that time, as a beneficiary, and whether 
located in the state of Minnesota or elsewhere.  
     Subd. 8.  [GIFT TRANSACTIONS.] In the statutory short form 
power of attorney, the language conferring general authority 
with respect to gift transactions, means that the principal 
authorizes the attorney-in-fact:  
    (1) to make gifts to organizations, whether charitable or 
otherwise, to which the principal has made gifts, and to satisfy 
pledges made to organizations by the principal;  
    (2) to make gifts on behalf of the principal to the 
principal's spouse, children, and other descendants or the 
spouse of any child or other descendant, either outright or in 
trust, for purposes which the attorney-in-fact deems to be in 
the best interest of the principal, specifically including 
minimization of income, estate, inheritance, or gift taxes, 
provided that no attorney-in-fact nor anyone the 
attorney-in-fact has a legal obligation to support may be the 
recipient of any gifts in any one calendar year which, in the 
aggregate, exceed $10,000 in value to each recipient;  
    (3) to prepare, execute, consent to on behalf of the 
principal, and file any return, report, declaration, or other 
document required by the laws of the United States, any state or 
subdivision of a state, or any foreign government, which the 
attorney-in-fact deems to be desirable or necessary with respect 
to any gift made under the authority of this subdivision;  
    (4) to execute, acknowledge, seal, and deliver any deed, 
assignment, agreement, authorization, check, or other instrument 
which the attorney-in-fact deems useful for the accomplishment 
of any of the purposes enumerated in this subdivision;  
    (5) to prosecute, defend, submit to arbitration, settle, 
and propose or accept a compromise with respect to any claim 
existing in favor of or against the principal based on or 
involving any gift transaction or to intervene in any related 
action or proceeding;  
    (6) to hire, discharge, and compensate any attorney, 
accountant, expert witness, or other assistant when the 
attorney-in-fact deems that action to be desirable for the 
proper execution by the attorney-in-fact of any of the powers 
described in this subdivision, and for the keeping of needed 
records; and 
    (7) in general, and in addition to but not in contravention 
of all the specific acts listed in this subdivision, to do any 
other acts which the attorney-in-fact deems desirable or 
necessary to complete any gift on behalf of the principal.  
    All powers described in this subdivision are exercisable 
equally with respect to a gift of any property in which the 
principal is interested at the giving of the power of attorney 
or becomes interested after that time, and whether located in 
the state of Minnesota or elsewhere.  
     Subd. 9.  [FIDUCIARY TRANSACTIONS.] In a statutory short 
form power of attorney, the language conferring general 
authority with respect to fiduciary transactions, means that the 
principal authorizes the agent:  
    (1) to apply for and procure, in the name of the principal, 
letters of administration, letters testamentary, letters of 
guardianship or conservatorship, or any other type of authority, 
either judicial or administrative, to act as a fiduciary of any 
sort;  
    (2) to represent and act for the principal in all ways and 
in all matters affecting any fund with respect to which the 
principal is a fiduciary;  
    (3) to initiate, participate in, and oppose any proceeding, 
judicial or otherwise, for the removal, substitution, or 
surcharge of a fiduciary, to conserve, to invest or to disburse 
anything received for the purposes of the fund for which it is 
received, and to reimburse the attorney-in-fact for any 
expenditures properly made by the attorney-in-fact in the 
execution of the powers conferred on the attorney-in-fact by the 
statutory short form power of attorney;  
    (4) to agree and contract, in any manner, with any person, 
and on any terms which the attorney-in-fact selects for the 
accomplishment of the purposes enumerated in this subdivision, 
and to perform, rescind, reform, release, or modify the 
agreement or contract or any other similar agreement or contract 
made by or on behalf of the principal;  
    (5) to execute, acknowledge, verify, seal, file, and 
deliver any consent, designation, pleading, notice, demand, 
election, conveyance, release, assignment, check, pledge, 
waiver, admission of service, notice of appearance, or other 
instrument which the attorney-in-fact deems useful for the 
accomplishment of any of the purposes enumerated in this 
subdivision;  
    (6) to hire, discharge, and compensate any attorney, 
accountant, expert witness, or other assistants, when the 
attorney-in-fact deems that action to be desirable for the 
proper execution by the attorney-in-fact of any of the powers 
described in this subdivision, and for the keeping of needed 
records; and 
    (7) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other acts with respect to 
a fund of which the principal is a fiduciary.  
    For the purposes of clauses (1) to (7), "fund" means any 
trust, probate estate, guardianship, conservatorship, escrow, 
custodianship, or any other fund in which the principal has, or 
claims to have, an interest as a fiduciary.  
     All powers described in this subdivision are exercisable 
equally with respect to any fund of which the principal is a 
fiduciary to the giving of the power of attorney or becomes a 
fiduciary after that time, and whether located in the state of 
Minnesota or elsewhere.  
     Subd. 10.  [CLAIMS AND LITIGATION.] In a statutory short 
form power of attorney, the language conferring general 
authority with respect to claims and litigation, means that the 
principal authorizes the attorney-in-fact:  
    (1) to assert and prosecute before any court, 
administrative board, department, commissioner, or other 
tribunal, any cause of action, claim, counterclaim, offset, or 
defense, which the principal has, or claims to have, against any 
individual, partnership, association, corporation, government, 
or other person or instrumentality, including, by way of 
illustration and not of restriction, power to sue for the 
recovery of land or of any other thing of value, for the 
recovery of damages sustained by the principal in any manner, 
for the elimination or modification of tax liability, for an 
injunction, for specific performance, or for any other relief;  
    (2) to bring an action of interpleader or other action to 
determine adverse claims, to intervene or interplead in any 
action or proceeding, and to act in any litigation as amicus 
curiae;  
    (3) in connection with any action or proceeding or 
controversy at law or otherwise, to apply for and, if possible, 
procure a libel, an attachment, a garnishment, an order of 
arrest, or other preliminary, provisional, or intermediate 
relief and to resort to and to utilize in all ways permitted by 
law any available procedure for the effectuation or satisfaction 
of the judgment, order, or decree obtained;  
    (4) in connection with any action or proceeding, at law or 
otherwise, to perform any act which the principal might perform, 
including by way of illustration and not of restriction, 
acceptance of tender, offer of judgment, admission of any facts, 
submission of any controversy on an agreed statement of facts, 
consent to examination before trial, and generally to bind the 
principal in the conduct of any litigation or controversy as 
seems desirable to the attorney-in-fact;  
    (5) to submit to arbitration, settle, and propose or accept 
a compromise with respect to any claim existing in favor of or 
against the principal or any litigation to which the principal 
is, may become, or may be designated a party;  
    (6) to waive the issuance and service of a summons, 
citation, or other process upon the principal, accept service of 
process, appear for the principal, designate persons upon whom 
process directed to the principal may be served, execute and 
file or deliver stipulations on the principal's behalf, verify 
pleadings, appeal to appellate tribunals, procure and give 
surety and indemnity bonds at the times and to the extent the 
attorney-in-fact deems desirable or necessary, contract and pay 
for the preparation and printing of records and briefs, receive 
and execute and file or deliver any consent, waiver, release, 
confession of judgment, satisfaction of judgment, notice, 
agreement, or other instrument which the attorney-in-fact deems 
desirable or necessary in connection with the prosecution, 
settlement, or defense of any claim by or against the principal 
or of any litigation to which the principal is or may become or 
be designated a party;  
    (7) to appear for, represent, and act for the principal 
with respect to bankruptcy or insolvency proceedings, whether 
voluntary or involuntary, whether of the principal or of some 
other person, with respect to any reorganization proceeding, or 
with respect to any receivership or application for the 
appointment of a receiver or trustee which, in any way, affects 
any interest of the principal in any real property, bond, share, 
commodity interest, tangible personal property, or other thing 
of value;  
    (8) to hire, discharge, and compensate any attorney, 
accountant, expert witness or other assistant when the 
attorney-in fact deems that action to be desirable for the 
proper execution of any of the powers described in this 
subdivision;  
    (9) to pay, from funds in the control of the 
attorney-in-fact or for the account of the principal, any 
judgment against the principal or any settlement which may be 
made in connection with any transaction enumerated in this 
subdivision, and to receive and conserve any money or other 
things of value paid in settlement of or as proceeds of one or 
more of the transactions enumerated in this subdivision, and to 
receive, endorse, and deposit checks; and 
    (10) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other acts in connection 
with any claim by or against the principal or with litigation to 
which the principal is or may become or be designated a party.  
     All powers described in this subdivision are exercisable 
equally with respect to any claim or litigation existing at the 
giving of the power of attorney or arising after that time, and 
whether arising in the state of Minnesota or elsewhere.  
     Subd. 11.  [FAMILY MAINTENANCE.] In a statutory short form 
power of attorney, the language conferring general authority 
with respect to family maintenance, means that the principal 
authorizes the attorney-in-fact:  
    (1) to do all acts necessary for maintaining the customary 
standard of living of the spouse and children, and other persons 
customarily supported by the principal, including by way of 
illustration and not by way of restriction, power to provide 
living quarters by purchase, lease, or other contract, or by 
payment of the operating costs, including interest, amortization 
payments, repairs, and taxes of premises owned by the principal 
and occupied by his family or dependents, to provide normal 
domestic help for the operation of the household, to provide 
usual vacations and usual travel expenses, to provide usual 
educational facilities, and to provide funds for all the current 
living costs of the spouse, children, and other dependents, 
including, among other things, shelter, clothing, food, and 
incidentals;  
    (2) to pay for necessary medical, dental, and surgical 
care, hospitalization, and custodial care for the spouse, 
children, and other dependents of the principal;  
    (3) to continue whatever provision has been made by the 
principal, either prior to or after the execution of the power 
of attorney, for his spouse and other persons customarily 
supported by the principal, with respect to automobiles, or 
other means of transportation, including by way of illustration 
but not by way of restriction, power to license, insure, and 
replace any automobiles owned by the principal and customarily 
used by the spouse, children, or other persons customarily 
supported by the principal;  
    (4) to continue whatever charge accounts have been operated 
by the principal prior to the execution of the power of attorney 
or thereafter for the convenience of his spouse, children, or 
other persons customarily supported by the principal, to open 
new accounts the attorney-in-fact deems to be desirable for the 
accomplishment of any of the purposes enumerated in this 
subdivision, and to pay the items charged on those accounts by 
any person authorized or permitted by the principal to make 
charges prior to the execution of the power of attorney;  
    (5) to continue payments incidental to the membership or 
affiliation of the principal in any church, club, society, 
order, or other organization or to continue contributions to 
those organizations;  
    (6) to demand, receive, obtain by action, proceeding, or 
otherwise any money or other thing of value to which the 
principal is or may become or may claim to be entitled as 
salary, wages, commission, or other remuneration for services 
performed, or as a dividend or distribution upon any stock, or 
as interest or principal upon any indebtedness, or any periodic 
distribution of profits from any partnership or business in 
which the principal has or claims an interest, and to endorse, 
collect, or otherwise realize upon any instrument for the 
payment received;  
    (7) to use any asset of the principal for the performance 
of the powers enumerated in this subdivision, including by way 
of illustration and not by way of restriction, power to draw 
money by check or otherwise from any bank deposit of the 
principal, to sell any interest in real property, bond, share, 
commodity interest, tangible personal property, or other asset 
of the principal, to borrow money and pledge as security for a 
loan, any asset, including insurance, which belongs to the 
principal;  
    (8) to execute, acknowledge, verify, seal, file, and 
deliver any application, consent, petition, notice, release, 
waiver, agreement, or other instrument which the 
attorney-in-fact deems useful for the accomplishment of any of 
the purposes enumerated in this subdivision;  
    (9) to hire, discharge, and compensate any attorney, 
accountant, or other assistant when the attorney-in-fact deems 
that action to be desirable for the proper execution by any of 
the powers described in this subdivision, and for the keeping of 
needed records; and 
    (10) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other acts for the welfare 
of the spouse, children, or other persons customarily supported 
by the principal or for the preservation and maintenance of the 
other personal relationships of the principal to parents, 
relatives, friends, and organizations as are appropriate.  
     All powers described in this subdivision are exercisable 
equally whether the acts required for their execution relate to 
real or personal property owned by the principal at the giving 
of the power of attorney or acquired after that time and whether 
those acts are performable in the state of Minnesota or 
elsewhere.  
    Subd. 12.  [BENEFITS FROM MILITARY SERVICE.] In a statutory 
short form power of attorney, the language conferring general 
authority with respect to benefits from military service, means 
that the principal authorizes the attorney-in-fact:  
    (1) to execute vouchers in the name of the principal for 
any and all allowances and reimbursements payable by the United 
States or by any state or subdivision of a state to the 
principal, including, by way of illustration and not of 
restriction, all allowances and reimbursements for 
transportation of the principal and of his dependents, and for 
shipment of household effects, to receive, endorse, and collect 
the proceeds of any check payable to the order of the principal 
drawn on the treasurer or other fiscal officer or depository of 
the United States or of any state or subdivision of a state;  
    (2) to take possession and order the removal and shipment 
of any property of the principal from any post, warehouse, 
depot, dock, or other place of storage or safekeeping, either 
governmental or private, to execute and deliver any release, 
voucher, receipt, bill of lading, shipping ticket, certificate, 
or other instrument which the attorney-in-fact deems desirable 
or necessary for that purpose;  
    (3) to prepare, file, and prosecute the claim of the 
principal to any benefit or assistance, financial or otherwise, 
to which the principal is, or claims to be, entitled, under the 
provisions of any statute or regulation existing at the 
execution of the power of attorney or enacted after that time by 
the United States or by any state or by any subdivision of a 
state, or by any foreign government, which benefit or assistance 
arises from or is based upon military service performed prior to 
or after the execution of the power of attorney by the principal 
or by any person related by blood or marriage to the principal, 
to execute any receipt or other instrument which the 
attorney-in-fact deems desirable or necessary for the 
enforcement or for the collection of that claim;  
    (4) to receive the financial proceeds of any claim of the 
type described in this subdivision, to conserve, invest, 
disburse, or use anything so received for purposes enumerated in 
this subdivision, and to reimburse the attorney-in-fact for any 
expenditures properly made by him in the execution of the powers 
conferred on the attorney-in-fact by the statutory short form 
power of attorney;  
    (5) to prosecute, defend, submit to arbitration, settle, 
and propose or accept a compromise with respect to any claim 
existing in favor of or against the principal based on or 
involving any benefits from military service or to intervene in 
any related action or proceeding;  
    (6) to hire, discharge, and compensate any attorney, 
accountant, expert witness, or other assistant when the 
attorney-in-fact deems that action to be desirable for the 
proper execution by the attorney-in-fact of any of the powers 
described in this subdivision; and 
    (7) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other acts which the 
attorney-in-fact deems desirable or necessary, to assure to the 
principal, and to the dependents of the principal, the maximum 
possible benefit from the military service performed prior to or 
after the execution of the power of attorney by the principal or 
by any person related by blood or marriage to the principal.  
    All powers described in this subdivision are exercisable 
equally with respect to any benefits from military service 
existing at the giving of the power of attorney or accruing 
after that time, and whether accruing in the state of Minnesota 
or elsewhere.  
    Subd. 13.  [RECORDS, REPORTS, AND STATEMENTS.] In a 
statutory short form power of attorney, the language conferring 
general authority with respect to records, reports, and 
statements means that the principal authorizes the 
attorney-in-fact:  
    (1) to keep records of all cash received and disbursed for 
or on account of the principal, of all credits and debits to the 
account of the principal, and of all transactions affecting in 
any way the assets and liabilities of the principal;  
    (2) to prepare, execute, and file all tax and tax 
information returns, for all periods, required by the laws of 
the United States, any state or any subdivision of a state, or 
any foreign government, to prepare, execute, and file all other 
tax-related documents for all tax periods, including requests 
for extension of time, offers, waivers, consents, powers of 
attorney, closing agreements, and petitions to any tax court 
regarding tax matters, and to prepare, execute, and file all 
other instruments which the attorney-in-fact deems desirable or 
necessary for the safeguarding of the principal against 
excessive or illegal taxation or against penalties imposed for 
claimed violation of any law or other governmental regulation, 
it being the intent of this provision that it is sufficiently 
definite to permit the attorney-in-fact to represent the 
principal respecting all taxes that the principal has paid and 
all tax returns that the principal has filed, either personally 
or through an agent, with the Internal Revenue Service or any 
other agency of the United States government, any state 
department of revenue, any political subdivision of a state, and 
any foreign country or political subdivision of a foreign 
country;  
    (3) to prepare, execute, and file any return, report, 
declaration, or other document required by the laws of the 
United States, any state, subdivision of a state, or any foreign 
government, including, by way of illustration and not as a 
limitation, any report or declaration required by the Social 
Security Administration, the commissioner of economic security 
or other, similar, governmental agency, which the 
attorney-in-fact deems to be desirable or necessary for the 
safeguarding or maintenance of the principal's interest;  
    (4) to prepare, execute, and file any record, report, or 
statement which the attorney-in-fact deems desirable or 
necessary for the safeguarding or maintenance of the principal's 
interest, with respect to price, rent, wage, or rationing 
control, or other governmental activity;  
    (5) to hire, discharge, and compensate any attorney, 
accountant, or other assistant when the attorney-in-fact deems 
that action to be desirable for the proper execution of any of 
the powers described in this subdivision; and 
    (6) in general, and in addition to all the specific acts 
listed in this subdivision, to do any other acts in connection 
with the preparation, execution, filing, storage, or other use 
of any records, reports, or statements of or concerning the 
principal's affairs.  
    All powers described in this subdivision are exercisable 
equally with respect to any records, reports, or statements of 
or concerning the affairs of the principal existing at the 
giving of the power of attorney or arising after that time, and 
whether arising in the state of Minnesota or elsewhere.  
    Subd. 14.  [ALL OTHER MATTERS.] In a statutory short form 
power of attorney, the language conferring general authority 
with respect to all other matters, means that the principal 
authorizes the attorney-in-fact to act as an alter ego of the 
principal with respect to any and all possible matters and 
affairs affecting property owned by the principal which are not 
enumerated in subdivisions 1 to 13, and which the principal can 
do through an agent.  
    Sec. 27.  [523.25] [MODIFICATION TO STATUTORY SHORT FORM 
POWER OF ATTORNEY.] 
    A power of attorney which satisfies the requirements of 
section 25, subdivision 1, is not prevented from being a 
statutory short form power of attorney, by the fact that:  (1) 
it creates a nondurable power of attorney instead of a durable 
power of attorney; (2) it provides for one or more named 
successors to the attorney-in-fact originally named; or (3) it 
provides that the attorney-in-fact must render an accounting to 
the principal or other designated person.  
    Sec. 28.  Minnesota Statutes 1982, section 528.15, is 
amended to read: 
    528.15 [PURPOSE; FORMS.] 
    The declared purpose of sections 528.01 to 528.16 528.15 is 
to render certainty to the nature of accounts of deposit in 
relation to the rights of survivorship, and to distinguish 
accounts of survivorship from accounts established for the 
purpose of having an agent with power to draw on the account for 
the convenience of the owner with no survivorship rights in the 
agent.  To further accomplish this purpose, the forms contained 
in this section are recommended for use to be kept on file in 
the depository financial institution.  Deposits made using a 
form of account containing the following language signed by the 
depositor shall be conclusive evidence of the intent of decedent 
to establish a survivorship account in the absence of fraud or 
misrepresentation, subject, nevertheless, to other disposition 
made by will specifically referring to the account as otherwise 
provided in section 528.05, clause (e), the form to read as 
follows: 
    "The undersigned signators of this account hereby 
acknowledge that the depositor or depositors, both as to the 
original deposit and any subsequent deposits, intend that such 
funds as may constitute the account balance upon the death of 
any party to this account, shall be the property of the 
surviving party or parties who shall take as a surviving joint 
tenant.  
    If two or more persons shall be the survivors, their 
interests shall continue to be held as joint tenants with right 
of survivorship.  
 
                           ..........................     
                           .........................."   
    Where no rights of survivorship are intended and the 
account is one to be established for convenience only between a 
depositor and his agent, the following language is recommended 
for use, and when so used, any account deposited in the form 
shall be construed as a matter of law to be an account subject 
to a power of attorney with no survivorship rights, the form to 
read as follows: 
    "I .................... (grantor of power), hereby 
constitute and appoint .................... (grantee of power), 
as my attorney in fact, to deposit or withdraw funds held in 
.................... (name of bank), in account No. ............ 
. 
    Dated: 
    Acknowledgment:  In the presence of ....................... 
(an authorized person), ....................... (name of 
financial institution)."  
    The power so granted is subject to the provisions of 
section 528.16 sections 3 to 27. 
    Sec. 29.  [REPEALER.] 
    Minnesota Statutes 1982, sections 51A.25; 507.291; 507.292; 
507.293; 507.294; 507.39; 524.5-501; 524.5-502; and 528.16, are 
repealed. 
    Approved April 26, 1984