New Mexico § 45-5B-120 - Liability for refusal to accept acknowledged power of attorney

§ 45-5B-120. Liability for refusal to accept acknowledged power of attorney

A. As used in this section, “ statutory form power of attorney ” means a power of attorney substantially in the form provided in Section 301 of the

Uniform Power of Attorney Act or that meets the requirements for a military power

of attorney pursuant to 10 U.S.C. Section 1046 , as amended. B. Except as otherwise provided in Subsection C of this section: (1) a person shall either accept an acknowledged statutory form power of attorney

or request a certification, a translation or an opinion of counsel under Subsection

B of Section 119 of the Uniform Power of Attorney Act no later than seven business

days after presentation of the power of attorney for acceptance; (2) if a person requests a certification, a translation or an opinion of counsel under

Subsection D of Section 119 of the Uniform Power of Attorney Act, the person shall

accept the statutory form power of attorney no later than five business days after

receipt of the certification, the translation or an opinion of counsel; and (3) a person shall not require an additional or different form of power of attorney

for authority granted in the statutory form power of attorney presented. C. A person is not required to accept an acknowledged statutory form power of attorney

if: (1) the person is not otherwise required to engage in a transaction with the principal

in the same circumstances; (2) engaging in a transaction with the agent or the principal in the same circumstances

would be inconsistent with federal law; (3) the person has actual knowledge of the termination of the agent's authority or

of the power of attorney before exercise of the power; (4) a request for a certification, a translation or an opinion of counsel under Subsection

D of Section 119 of the Uniform Power of Attorney Act is refused; (5) the person in good faith believes that the power of attorney is not valid or that

the agent does not have the authority to perform the act requested, whether or not

a certification, a translation or an opinion of counsel under Subsection D of Section

119 of the Uniform Power of Attorney Act has been requested or provided; or (6) the person makes, or has actual knowledge that another person has made, a report

to the adult protective services division of the aging and long-term services department

stating a good faith belief that the principal may be subject to physical or financial

abuse, neglect, exploitation or abandonment by the agent or a person acting for or

with the agent. D. A person that refuses in violation of this section to accept an acknowledged statutory

form power of attorney is subject to: (1) a court order mandating acceptance of the power of attorney; and (2) liability for reasonable attorney fees and costs incurred in any action or proceeding

that confirms the validity of the power of attorney or mandates acceptance of the

power of attorney.