New Mexico Statutes 45-5B-203. Construction of authority generally
Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in Sections 204 through 217 N.M. Stat. Ann. § 45-5B-204 to 45-5B-217 of the Uniform Power of Attorney Act or that grants to an agent authority to do all acts that a principal could do pursuant to Subsection C of Section 201 [45-5B-201 N.M. Stat. Ann.] of that act, a principal authorizes the agent, with respect to that subject, to:
Terms Used In New Mexico Statutes 45-5B-203
- Contract: A legal written agreement that becomes binding when signed.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Statute: A law passed by a legislature.
A. demand, receive and obtain by litigation or otherwise, money or another thing of value to which the principal is, may become or claims to be entitled, and conserve, invest, disburse or use anything so received or obtained for the purposes intended;
B. contract in any manner with any person, on terms agreeable to the agent, to accomplish a purpose of a transaction and perform, rescind, cancel, terminate, reform, restate, release or modify the contract or another contract made by or on behalf of the principal;
C. execute, acknowledge, seal, deliver, file or record any instrument or communication the agent considers desirable to accomplish a purpose of a transaction, including creating at any time a schedule listing some or all of the principal’s property and attaching it to the power of attorney;
D. initiate, participate in, submit to alternative dispute resolution, settle, oppose or propose or accept a compromise with respect to a claim existing in favor of or against the principal or intervene in litigation relating to the claim;
E. seek on the principal’s behalf the assistance of a court or other governmental agency to carry out an act authorized in the power of attorney;
F. engage, compensate and discharge an attorney, accountant, discretionary investment manager, expert witness or other advisor;
G. prepare, execute and file a record, report or other document to safeguard or promote the principal’s interest under a statute or regulation;
H. communicate with any representative or employee of a government or governmental subdivision, agency or instrumentality on behalf of the principal;
I. access communications intended for and communicate on behalf of the principal, whether by mail, electronic transmission, telephone or other means; and
J. do any lawful act with respect to the subject and all property related to the subject.