Colorado § 15-14-602 - Definitions.
Full text of Colorado Colorado Revised Statutes § 15-14-602 — Definitions., with citation guidance and answers to common questions.
§ 15-14-602. Definitions.
As used in this part 6:
(1) "Agency" means the relationship between the principal and the principal's agent.
(2) "Agency instrument" means the written power of attorney or other written instrument of agency governing the relationship between the principal and agent. An agency is subject to the provisions of this part 6 to the extent the agency relationship is established in writing and may be controlled by the principal, excluding agencies and powers for the benefit of the agent. This definition shall not apply to medical powers of attorney drafted pursuant to the "Colorado Patient Autonomy Act", sections 15-14-503 to 15-14-509, a power of attorney subject to the "Uniform Power of Attorney Act", part 7 of this article, or to any other power of attorney or instrument of agency granted by an individual.
(3) "Agent" means the attorney-in-fact or other person, including successors, who is authorized by the agency instrument to act for the principal.
(4) "Principal" means a corporation, trust, partnership, limited liability company, or other entity, including, but not limited to, an entity acting as trustee, personal representative, or other fiduciary, who signs a power of attorney or other instrument of agency granting powers to an agent.
(5) "Third party" means any person who is requested by an agent under an agency instrument to recognize the agent's authority to deal with the principal's property or who acts in good-faith reliance on a copy of the agency instrument. "Third party" includes an individual, corporation, trust, partnership, limited liability company, or other entity, as may be appropriate.
Source: L. 94: Entire part added, p. 1069, § 1, effective January 1, 1995. L. 2009: (2) and (4) amended, (HB 09-1198), ch. 106, p. 421, § 7, effective January 1, 2010.
ANNOTATION
Law reviews. For article, "Protecting Clients From Abuse and Identity Theft", see 34 Colo. Law. 43 (Oct. 2005). For article, "Placement on a Secure Unit by Surrogate Decision-Makers", see 34 Colo. Law. 49 (Oct. 2005).
Frequently Asked Questions About Colorado § 15-14-602
What does Colorado Revised Statutes § 15-14-602 cover?
Section 15-14-602 ("Definitions.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 15-14-602?
A common citation format is "Colorado Revised Statutes § 15-14-602" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-14-602 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.