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

  

                         Laws of Minnesota 1992 

                        CHAPTER 548-H.F.No. 2000 
           An act relating to probate; changing provisions 
          relating to merger of trusts, certificates of trust, 
          affidavits of trustees, and powers of attorney; 
          amending Minnesota Statutes 1990, sections 508.62; 
          508A.62; 523.02; 523.03; 523.07; 523.08; 523.09; 
          523.11, subdivisions 1 and 2; 523.17; 523.18; 523.19; 
          523.21; 523.22; 523.23, subdivisions 1, 2, 3, and by 
          adding subdivisions; 523.24, subdivisions 1, 7, 8, and 
          9; Minnesota Statutes 1991 Supplement, section 518.58, 
          subdivision 1a; proposing coding for new law in 
          Minnesota Statutes, chapters 501B; and 523; repealing 
          Minnesota Statutes 1990, section 523.25. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  [501B.13] [NONMERGER OF TRUSTS.] 
    Subdivision 1.  [SAME TRUSTEE AND BENEFICIARY.] No trust is 
invalid or terminated, and title to trust assets is not merged, 
because the trustee or trustees are the same person or persons 
as the beneficiaries of the trust.  
    Subd. 2.  [APPLICABILITY.] Subdivision 1 applies to all 
trusts whenever executed or created.  
    Sec. 2.  [501B.56] [CERTIFICATE OF TRUST.] 
    Subdivision 1.  [CONTENTS OF CERTIFICATE.] The grantor or a 
trustee of a trust, at any time after execution or creation of a 
trust, may execute a certificate of trust that sets forth less 
than all of the provisions of a trust instrument and any 
amendments to the instrument.  The certificate of trust may be 
used for purposes of selling, conveying, pledging, mortgaging, 
leasing, or transferring title to any interest in real or 
personal property.  The certificate of trust must include:  
    (1) the name of the trust, if one is given; 
    (2) the date of the trust instrument; 
    (3) the name of each grantor; 
    (4) the name of each original trustee; 
    (5) the name and address of each trustee empowered to act 
under the trust instrument at the time of execution of the 
certificate; 
    (6) the following statement:  "The trustees are authorized 
by the instrument to sell, convey, pledge, mortgage, lease, or 
transfer title to any interest in real or personal property, 
except as limited by the following:  (if none, so indicate)"; 
    (7) any other trust provisions the grantors or trustees 
include; and 
    (8) a statement as to whether the trust instrument has 
terminated or been revoked. 
     The certificate of trust must be upon the representation of 
the grantors or trustees that the statements contained in the 
certificate of trust are true and correct and that there are no 
other provisions in the trust instrument or amendments to it 
that limit the powers of the trustees to sell, convey, pledge, 
mortgage, lease, or transfer title to interests in real or 
personal property.  The signature of the grantors or trustees 
must be under oath before a notary public or other official 
authorized to administer oaths. 
     Subd. 2.  [EFFECT.] A certificate of trust executed under 
subdivision 1 may be recorded in the office of the county 
recorder for any county or filed with the office of the 
registrar of titles with respect to registered land described in 
the certificate of trust or any attachment to it.  When it is 
recorded or filed in a county where real property is situated, 
or in the case of personal property, when it is presented to a 
third party, the certificate of trust serves to document the 
existence of the trust, the identity of the trustees, the powers 
of the trustees and any limitations on those powers, and other 
matters the certificate of trust sets out, as though the full 
trust instrument had been recorded, filed, or presented.  Until 
amended or revoked under subdivision 3, or until the full trust 
instrument is recorded, filed, or presented, a certificate of 
trust is prima facie proof as to the matters contained in it and 
any party may rely upon the continued effectiveness of the 
certificate. 
     Subd. 3.  [AMENDMENT OR REVOCATION.] Amendment or 
revocation of a certificate of trust may be made only by a 
written instrument executed by the grantor or a trustee of a 
trust.  Amendment or revocation of a certificate of trust is not 
effective as to a party unless that party has actual notice of 
the amendment or revocation. 
    For purposes of this subdivision, "actual notice" means 
that a written instrument of amendment or revocation has been 
received by the party or, in the case of real property, that 
either a written instrument of amendment or revocation has been 
received by the party or that a written instrument of amendment 
or 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 where the real 
property is situated. 
    Subd. 4.  [APPLICATION.] Subdivisions 1 to 3 are effective 
August 1, 1992, but apply to trust instruments whenever created 
or executed. 
    Sec. 3.  [501B.57] [AFFIDAVIT OF TRUSTEE IN REAL PROPERTY 
TRANSACTIONS.] 
    Subdivision 1.  [FORM OF AFFIDAVIT.] An affidavit of a 
trustee or of trustees in support of a real property transaction 
may be substantially in the following form: 
 
STATE OF MINNESOTA  )                     AFFIDAVIT OF TRUSTEE
                    )ss. 
COUNTY OF           ) 
    .........................., being first duly sworn on oath 
says that:  
    1.  Affiant is the trustee (one of the trustees) named in 
that certain Certificate of Trust (or Trust Instrument) dated 
......., 19.., and filed for record ......., 19.., as Document 
No. ..... (or in Book ..... of ............, Page ......) in the 
Office of the County Recorder (Registrar of Titles) of 
........... County, Minnesota, executed by Affiant or another 
trustee or the grantor of the Trust described in the Certificate 
of Trust (or set forth in the Trust Instrument), and which 
relates to real property in .......... County, Minnesota legally 
described as follows: 
     ............................................................
............................................................... 
............................................................... 
............................................................... 
    (If more space is needed, continue on back or on 
attachment.) 
    2.  The name(s) and address(es) of the trustee(s) empowered 
by the Trust Instrument to act at the time of the execution of 
this Affidavit are as follows: 
    ......................................................... 
.............................................................. 
.............................................................. 
     3.  The trustee(s) who have executed that certain 
instrument relating to the real property described above between 
........................, as trustee(s) and 
..........................., dated .........., 19..: 
    (a) are empowered by the provisions of the trust to sell, 
convey, pledge, mortgage, lease, or transfer title to any 
interest in real property held in trust; and 
    (b) are the requisite number of trustees required by the 
provisions of the trust to execute and deliver such an 
instrument.  
    4.  The Trust has not terminated and has not been revoked. 
     - OR - 
     4.  The Trust has terminated (or has been revoked).  The 
execution and delivery of the instrument described in paragraph 
3 has been made pursuant to the provisions of the Trust.  
     5.  There has been no amendment to the Trust which limits 
the power of trustee(s) to execute and deliver the instrument 
described in paragraph 3.  
    6.  The Trust is not supervised by any court. 
    - OR -  
    6.  The Trust is supervised by the ............ Court of 
.............. County, ................  All necessary approval 
has been obtained from the court for the trustee(s) to execute 
and deliver the instrument described in paragraph 3.  
    7.  Affiant does not have actual knowledge of any facts 
indicating that the Trust is invalid. 
                                    .............................
                                                        , Affiant
Subscribed and sworn to before me
this .... day of ........., 19...
                                    .............................
Notary Stamp or Seal                Signature of Notary Public or
                                           Other Official 
This instrument was drafted by:
...............................
...............................
...............................
    Subd. 2.  [EFFECT.] An affidavit by the trustee or trustees 
under subdivision 1 is proof that: 
     (i) the trust described in the affidavit is a valid trust; 
    (ii) either the trust has not terminated or been revoked 
or, if the trust has terminated or been revoked, the conveyance 
described in the affidavit is made pursuant to the provisions of 
the trust; 
    (iii) the powers granted the trustee or trustees extend to 
the real property described in the affidavit or attachment to 
the affidavit; 
    (iv) no amendment to the trust has been made limiting the 
power of the trustee or trustees to sell, convey, pledge, 
mortgage, lease, or transfer title to the real property 
described in the affidavit or attachment to the affidavit, if 
any; 
     (v) the requisite number of trustees have executed and 
delivered the instrument of conveyance described in the 
affidavit; and 
     (vi) any necessary court approval of the transaction has 
been obtained. 
The proof is conclusive as to any party relying on the 
affidavit, except a party dealing directly with the trustee or 
trustees who has actual knowledge of facts to the contrary. 
    Sec. 4.  Minnesota Statutes 1990, section 508.62, is 
amended to read: 
    508.62 [TRUSTEE'S CONVEYANCE.] 
    No instrument executed by an owner whose fee title to 
registered land is held in trust which transfers or plats the 
land, shall be registered except upon the written certification 
of the examiner of titles that the instrument is executed in 
accordance with a power conferred in the instrument of trust, or 
evidenced in a certificate of trust authorized by section 2, or 
is authorized by law, or upon the order of the district court 
directing its registration.  The examiner shall not certify any 
such instrument unless: 
     (1) the trust is administered supervised by the court; or 
unless 
    (2) an affidavit of trustee authorized by section 3 and the 
document creating the trust, or a certified copy of it, or a 
certificate of trust authorized by section 2 is registered as a 
memorial upon the certificate of title.  The certified copy of 
the certificate setting forth the adoption of the resolution for 
voluntary dissolution of a corporate registered owner together 
with the certificate of the secretary of state that said 
certificate of dissolution has been filed for record in the 
secretary's office shall be deemed the document creating the 
trust.  
    Sec. 5.  Minnesota Statutes 1990, section 508A.62, is 
amended to read: 
    508A.62 [TRUSTEE'S CONVEYANCE.] 
    No instrument executed by an owner, whose fee title to land 
is registered under sections 508A.01 to 508A.85 and is held in 
trust, which transfers or plats the land, shall be registered 
except upon the written certification of the examiner of titles 
that the instrument is executed in accordance with a power 
conferred in the instrument of trust, or evidenced in a 
certificate of trust authorized by section 2, or is authorized 
by law, or upon the order of the district court directing the 
registration of it.  The examiner shall not certify any 
instrument unless: 
     (1) the trust is administered supervised by the court; or 
unless 
    (2) an affidavit of trustee authorized by section 3 and the 
document creating the trust, or a certified copy thereof of 
it, or a certificate of trust authorized by section 2 is 
registered as a memorial upon the CPT.  The certified copy of 
the certificate setting forth the adoption of the resolution for 
voluntary dissolution of a corporate registered owner together 
with the certificate of the secretary of state that the 
certificate of dissolution has been filed for record in the 
secretary's office shall be deemed the document creating the 
trust.  
    Sec. 6.  Minnesota Statutes 1991 Supplement, section 
518.58, subdivision 1a, is amended to read: 
    Subd. 1a.  [TRANSFER, ENCUMBRANCE, CONCEALMENT, OR 
DISPOSITION OF MARITAL ASSETS.] During the pendency of a 
marriage dissolution, separation, or annulment proceeding, or in 
contemplation of commencing a marriage dissolution, separation, 
or annulment proceeding, each party owes a fiduciary duty to the 
other for any profit or loss derived by the party, without the 
consent of the other, from a transaction or from any use by the 
party of the marital assets.  If the court finds that a party to 
a marriage, without consent of the other party, has in 
contemplation of commencing, or during the pendency of, the 
current dissolution, separation, or annulment proceeding, 
transferred, encumbered, concealed, or disposed of marital 
assets except in the usual course of business or for the 
necessities of life, the court shall compensate the other party 
by placing both parties in the same position that they would 
have been in had the transfer, encumbrance, concealment, or 
disposal not occurred.  The burden of proof under this 
subdivision is on the party claiming that the other party 
transferred, encumbered, concealed, or disposed of marital 
assets in contemplation of commencing or during the pendency of 
the current dissolution, separation, or annulment proceeding, 
without consent of the claiming party, and that the transfer, 
encumbrance, concealment, or disposal was not in the usual 
course of business or for the necessities of life.  In 
compensating a party under this section, the court, in dividing 
the marital property, may impute the entire value of an asset 
and a fair return on the asset to the party who transferred, 
encumbered, concealed, or disposed of it.  Use of a power of 
attorney, or the absence of a restraining order against the 
transfer, encumbrance, concealment, or disposal of marital 
property is not available as a defense under this subdivision. 
    Sec. 7.  Minnesota Statutes 1990, section 523.02, is 
amended to read: 
    523.02 [COMMON LAW, PREEXISTING AND FOREIGN POWERS OF 
ATTORNEY.] 
    A written power of attorney is a validly executed power of 
attorney for the purposes of sections 523.01 to 523.25 523.24, 
and is subject to the provisions of sections 523.01 to 523.25 
523.24, if it is validly created pursuant to:  (1) the law of 
Minnesota as it existed prior to the enactment of sections 
523.01 to 523.25 523.24 if it was executed prior to August 1, 
1984; (2) the common law; or (3) the law of another state or 
country.  A power of attorney executed before August 1, 1992, in 
conformity with section 523.23 as that statute existed before 
that date is a statutory short form power of attorney.  A power 
of attorney executed on or after August 1, 1992, in conformity 
with section 523.23 as it exists on or after that date is a 
statutory short form power of attorney.  A provision in a power 
of attorney that would make it a durable power of attorney under 
section 523.07 but for its use of the term "disability" in place 
of "incapacity or incompetence" is nonetheless a durable power 
of attorney.  
    Sec. 8.  Minnesota Statutes 1990, section 523.03, is 
amended to read: 
    523.03 [INTERPRETATION.] 
    Unless the context requires otherwise, all references in 
sections 523.01 to 523.25 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.  As used in 
this chapter: 
    (1) "incapacity" means cause for appointment of a guardian 
or conservator of the person or estate of an adult under section 
525.54; 
    (2) "incompetence" has the meaning given in section 525.54; 
    (3) "principal" includes a guardian or conservator of the 
estate appointed for the principal at any time; and 
    (4) "power of attorney" means a validly executed power of 
attorney. 
    Sec. 9.  Minnesota Statutes 1990, section 523.07, is 
amended to read: 
    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 
incapacity or incompetence of the principal" or "This power of 
attorney shall become effective upon the disability incapacity 
or incompetence of the principal," or similar words showing the 
intent of the principal that the authority conferred is 
exercisable notwithstanding the principal's later disability or 
incapacity or incompetence.  
    Sec. 10.  [523.075] [EXPIRATION DATE IN A POWER OF 
ATTORNEY.] 
    In a power of attorney, an expiration date, if any, must be 
stated in terms of a specific month, day, and year.  An 
expiration date stated in any other way has no effect. 
    Sec. 11.  Minnesota Statutes 1990, section 523.08, is 
amended to read: 
    523.08 [TERMINATION OF A DURABLE POWER.] 
    A durable power of attorney terminates on the earliest to 
occur of the death of the principal or upon, the expiration of a 
period of time date of termination specified in the power of 
attorney if the period ends prior to the death of the principal, 
or, in the case of a power of attorney to the spouse of the 
principal, upon the commencement of proceedings for dissolution, 
separation, or annulment of the principal's marriage.  
    Sec. 12.  Minnesota Statutes 1990, section 523.09, is 
amended to read: 
    523.09 [TERMINATION OF A NONDURABLE POWER OF ATTORNEY.] 
    A nondurable power of attorney terminates on the death of 
the principal, on the incompetency incapacity or incompetence of 
the principal, or upon the expiration of a period of time date 
of termination specified in the power of attorney if the period 
ends prior to the death or incompetency of the principal, or, in 
the case of a power of attorney to the spouse of the principal, 
upon the commencement of proceedings for dissolution, 
separation, or annulment of the principal's marriage.  
    Sec. 13.  Minnesota Statutes 1990, section 523.11, 
subdivision 1, is amended to read: 
    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 
before a notary public.  The conservator or guardian of the 
principal has the same power the principal would have if the 
principal were not disabled incapacitated or incompetent to 
revoke, suspend, or terminate all or any part of the power of 
attorney.  
    Sec. 14.  Minnesota Statutes 1990, section 523.11, 
subdivision 2, is amended to read: 
    Subd. 2.  [EFFECT; DEFINITION OF ACTUAL NOTICE OF 
REVOCATION.] 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, 
transactions only, "actual notice of revocation" means that a 
written instrument of revocation has been received by the party, 
or 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.  
    Sec. 15.  [523.131] [QUALIFICATION OF SUCCESSOR 
ATTORNEY-IN-FACT IN STATUTORY SHORT FORM POWER OF ATTORNEY.] 
    If two or more attorneys-in-fact are originally appointed 
and one dies, resigns, or is unable to serve, a successor 
attorney-in-fact named in a power of attorney executed in 
conformity with section 523.23 replaces the attorney-in-fact who 
dies, resigns, or is unable to serve.  If the original 
attorneys-in-fact were required to act jointly, the 
attorneys-in-fact acting at any time must act jointly.  If the 
original attorneys-in-fact were allowed to act individually, the 
attorneys-in-fact acting at any time may act individually.  If 
attorneys-in-fact acting at any time are required to act 
jointly, and there is only one remaining attorney-in-fact 
because of the death, resignation, or inability to serve of all 
other original and successor attorneys-in-fact, the remaining 
attorney-in-fact may act alone. 
    Sec. 16.  Minnesota Statutes 1990, section 523.17, is 
amended to read: 
    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.  Subdivision 1.  [FORM OF AFFIDAVIT.] An affidavit of 
nontermination or nonrevocation in support of a real property 
transaction may be substantially in the following form: 
 AFFIDAVIT BY ATTORNEY IN FACT
STATE OF MINNESOTA  )
                    )ss.
COUNTY OF           )
    ............................., being first duly sworn on 
oath says that: 
    1.  Affiant is the Attorney-in-Fact (or agent) named in 
that certain Power of Attorney dated ..........., 19.., and 
filed for record ..........., 19.., as Document No........ (or 
in Book .......... of ....... Page.......), in the Office of the 
(County Recorder) (Registrar of Titles) of................ 
County, Minnesota, executed by 
..........................................as Grantor and 
Principal, relating to real property in .................... 
County, Minnesota, legally described as follows: 
........................................................ 
........................................................ 
........................................................ 
    (If more space is needed, continue on back or on an 
attachment.) 
    2.  Affiant does not have actual knowledge and has not 
received actual notice of the revocation or termination of the 
Power of Attorney by Grantor's death, incapacity, incompetence, 
or otherwise, or notice of any facts indicating the same. 
    3.  Affiant has examined the legal description(s) if any, 
attached to said Power of Attorney, and certifies that the 
description(s) has (have) not been changed, replaced, or amended 
subsequent to the signing of said Power of Attorney by the 
Principal. 
                                    .............................
                                                        , Affiant
Subscribed and sworn to before me
this .... day of ........., 19...
                                    .............................
Notary Stamp or Seal                Signature of Notary Public or
                                           Other Official 
This instrument was drafted by:
...............................
...............................
...............................
    Subd. 2.  [EFFECT.] An affidavit by the attorney-in-fact 
under subdivision 1 is conclusive proof that the power of 
attorney has not terminated or been revoked, and that the powers 
granted extended to the property described in the power of 
attorney or any attachment to it, as of 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 or actual knowledge that the powers do 
not extend to the real property legally described in the power 
of attorney, including any attachment. 
    Sec. 17.  Minnesota Statutes 1990, section 523.18, is 
amended to read: 
    523.18 [SIGNATURE OF ATTORNEY-IN-FACT 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 523.17, 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)  the principal's 
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, in the case of a power of attorney to the spouse 
of the principal, by the commencement of proceedings for 
dissolution, separation, or annulment of the principal's 
marriage, or, if the power is one which terminates upon 
incapacity or incompetence of the principal, actual knowledge of 
the principal's incapacity or 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. 18.  Minnesota Statutes 1990, section 523.19, is 
amended to read: 
    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 523.17 and 523.18 have been 
satisfied; (2) the provisions of section 523.16 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 incapacitated or 
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. 19.  Minnesota Statutes 1990, section 523.21, is 
amended to read: 
    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; or (3) the attorney-in-fact has reimbursed the 
attorney-in-fact for any expenditure the attorney-in-fact has 
made on behalf of the principal.  A written statement that gives 
reasonable notice of all transactions entered into by the 
attorney-in-fact on behalf of the principal is an adequate 
accounting.  The persons entitled to examine and copy the 
records of the attorney-in-fact are the principal, a person 
designated by the principal in the document creating the power 
of attorney as the recipient of accountings required by this 
section, 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 or by the attorney-in-fact's failure to 
account when the attorney-in-fact has a duty to account under 
this section.  
    Sec. 20.  Minnesota Statutes 1990, section 523.22, is 
amended to read: 
    523.22 [LIABILITY OF ATTORNEY-IN-FACT FOR IMPROPER 
EXECUTION OF AFFIDAVITS AND SIGNATURE.] 
    Nothing in sections 523.01 to 523.25 523.24 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 
523.18 are not satisfied, signs on behalf of the principal is 
liable for treble the amount of damages suffered by the 
principal.  
    Sec. 21.  Minnesota Statutes 1990, section 523.23, 
subdivision 1, is amended to read: 
    Subdivision 1.  [FORM.] The use of the following form in 
the creation of may be used to create a power of attorney is 
lawful, and, when used, it shall must be construed in accordance 
with the provisions of sections 523.23 and 523.24:  
NOTICE:  THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND 
SWEEPING.  THEY ARE DEFINED IN SECTION 523.24.  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 BUT DOES NOT REQUIRE THE ATTORNEY-IN-FACT TO 
ACT FOR YOU.  
    Know All by These Presents, which are intended to 
constitute a STATUTORY SHORT FORM POWER OF ATTORNEY pursuant to 
Minnesota Statutes, section 523.23:  
    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 
523.24:  
    (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 the attorney-in-fact.  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 receive the transfer 
           directly. 
    .....  This power of attorney does not authorize
           the attorney-in-fact to receive the transfer
           directly.
    In Witness Whereof I have hereunto signed my name this 
......... day of ..................., 19...  
                                      ...................... 
                                     (Signature of Principal) 
(Acknowledgment) 
                   Specimen Signature of Attorney(s)-in-Fact 
                              ......................... 
                              ......................... 
 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) 
..................................... 
..................................... 
..................................... 
ATTORNEYS(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.) 
Check or "x" 
..... (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.) 
          (NOTE:  A person may not grant powers relating to real 
          property transactions in Minnesota to his  
          or her spouse.) 
          ......................................................
          ......................................................
          ......................................................
          ......................................................
          (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 continue to be effective
if I become incapacitated or incompetent.  
... This power of attorney shall not 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 authorizes the attorney-in-fact to 
    transfer my property to the attorney-in-fact.  
... This power of attorney does not authorize the 
    attorney-in-fact to transfer my property to the 
    attorney-in-fact.  
    FOURTH:  (You may 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.)  
... 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.  
In Witness Whereof I have hereunto signed my name this .... day 
of .........., 19....  
                                  .............................. 
                                     (Signature of Principal) 
     (Acknowledgment of Principal) 
STATE OF MINNESOTA  )
                    )ss.
COUNTY OF           )
     The foregoing instrument was acknowledged before me this 
.... day of .........., 19..., by ..........................  
                                   (Insert Name of Principal) 
                                  .............................. 
                                    (Signature of Notary Public 
                                        or other Official) 
      This instrument was             Specimen Signature of 
         drafted by:                   Attorney(s)-in-Fact 
                                     (Notarization not required) 
.............................     .............................. 
.............................     .............................. 
.............................     .............................. 
                                  .............................. 
    Sec. 22.  Minnesota Statutes 1990, section 523.23, 
subdivision 2, is amended to read: 
    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) (N) 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).  
    Sec. 23.  Minnesota Statutes 1990, section 523.23, 
subdivision 3, is amended to read: 
    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 and with no modifications, parts First, Second, 
and Third must be properly completed, and the signature of the 
principal must be acknowledged.  Failure to name a successor 
attorney-in-fact, to provide an expiration date, or to complete 
part Fourth does not invalidate the power as a statutory short 
form power of attorney.  A power of attorney that does not 
satisfy the requirements of this subdivision, but purports to be 
a statutory short form power of attorney, may constitute a 
common law power of attorney that incorporates by reference the 
definitions of powers contained in section 523.24; however, a 
party refusing to accept the authority of the common law 
attorney-in-fact is not liable under section 523.20.  
    Sec. 24.  Minnesota Statutes 1990, section 523.23, is 
amended by adding a subdivision to read: 
    Subd. 3a.  [LEGAL DESCRIPTION.] Use of a street address 
instead of a legal description under the power of (A) in part 
First of the statutory short form power of attorney invalidates 
the power of (A) for all real property transactions, but does 
not affect the powers of (B) to (M), nor does it affect the 
power of (N) except with respect to real property transactions.  
    Sec. 25.  Minnesota Statutes 1990, section 523.23, is 
amended by adding a subdivision to read: 
    Subd. 5.  [REIMBURSEMENT OF ATTORNEY-IN-FACT.] The 
attorney-in-fact acting under a statutory short form power of 
attorney is authorized to reimburse the attorney-in-fact for 
expenditures the attorney-in-fact has made on behalf of the 
principal even if the principal has not authorized the 
attorney-in-fact to receive transfers directly under part 
Third.  In the event a reimbursement is made, the 
attorney-in-fact shall render an accounting in accordance with 
section 523.21.  
    Sec. 26.  Minnesota Statutes 1990, section 523.24, 
subdivision 1, is amended to read: 
     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 
covenants, 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 except when a legal description of 
certain real property is included in the statutory short form 
power of attorney, in which case the powers described in this 
subdivision are exercisable only with respect to the estate or 
interest owned by the principal in the property described in the 
form.  In the case of real property located in the state of 
Minnesota, the powers described in this subdivision are limited 
by the provisions of section 519.06. 
    Sec. 27.  Minnesota Statutes 1990, section 523.24, 
subdivision 7, is amended to read: 
    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, qualified 
benefit plan, nonqualified benefit plan, individual retirement 
asset, or other fund out of which the principal is entitled, or 
claims to be entitled, as a beneficiary or participant, 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, qualified benefit plan, nonqualified 
benefit plan, individual retirement asset, 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, qualified benefit plan, 
nonqualified benefit plan, individual retirement asset, or other 
fund, in which the principal has, or claims to have, an interest 
as a beneficiary or participant. 
    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, qualified benefit plan, nonqualified benefit 
plan, individual retirement asset, 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 or 
participant, and whether located in the state of Minnesota or 
elsewhere.  
    Sec. 28.  Minnesota Statutes 1990, section 523.24, 
subdivision 8, is amended to read: 
    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, and, if authorized by 
the principal in part Third, to the attorney-in-fact, 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, notwithstanding that the principal in part 
Third may have authorized the attorney-in-fact to transfer the 
principal's property to the attorney-in-fact, 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.  
    Sec. 29.  Minnesota Statutes 1990, section 523.24, 
subdivision 9, is amended to read: 
    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) (2) 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) (3) 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) (4) 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) (5) 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) (6) 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.  
    Nothing in this subdivision authorizes delegation of any 
power of a fiduciary unless the power is one the fiduciary is 
authorized to delegate under the terms of the instrument 
governing the exercise of the power or under local law.  
    For the purposes of clauses (1) to (7) (6), "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.  
    Sec. 30.  [REPEALER.] 
    Minnesota Statutes 1990, section 523.25, is repealed. 
    Presented to the governor April 17, 1992 
    Signed by the governor April 27, 1992, 2:02 p.m.