§ 3024. Authority that requires specific grant--Grant of general authority
Oklahoma Statutes AnnotatedTitle 58. Probate ProcedureEffective: November 1, 2021
Effective: November 1, 2021
58 Okl.St.Ann. § 3024
§ 3024. Authority that requires specific grant--Grant of general authority
A. An agent under a power of attorney may do the following on behalf of the principal or with the principal's property only if the power of attorney expressly grants the agent the authority and exercise of the authority is not otherwise prohibited by another agreement or instrument to which the authority or property is subject:
B. Notwithstanding a grant of authority to do an act described in subsection A of this section, unless the power of attorney otherwise provides, an agent that is not an ancestor, spouse or descendant of the principal may not exercise authority under a power of attorney to create in the agent, or in an individual to whom the agent owes a legal obligation of support, an interest in the principal's property, whether by gift, right of survivorship, beneficiary designation, disclaimer or otherwise.
C. Subject to subsections A, B, D and E of this section, if a power of attorney grants to an agent authority to do all acts that a principal could do, the agent has the general authority described in Sections 27 through 39 of this act.1
D. Unless the power of attorney otherwise provides, a grant of authority to make a gift is subject to Section 40 of this act2.
F. Authority granted in a power of attorney is exercisable with respect to property that the principal has when the power of attorney is executed or acquires later, whether or not the property is located in this state and whether or not the authority is exercised or the power of attorney is executed in this state.
Credits
Laws 2021, c. 332, § 24, eff. Nov. 1, 2021.
58 Okl. St. Ann. § 3024, OK ST T. 58 § 3024
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document |