Oklahoma § 15-1005

§ 15-1005.

Construction of power generally.

CONSTRUCTION OF POWER GENERALLY

By executing a statutory power of attorney with respect to a

subject listed in subsection A of Section 1 of this act, the

principal, except as limited or extended by the principal in the

power of attorney, empowers the agent, for that subject to:

1. Demand, receive, and obtain by litigation or otherwise,

money or other thing of value to which the principal is, may become,

or claims to be entitled and to conserve, invest, disburse, or use

anything so received for the purposes intended;

2. Contract in any manner with any person, on terms agreeable

to the agent, to accomplish a purpose of a transaction, and perform,

rescind, reform, release, or modify the contract or another contract

made by or on behalf of the principal;

3. Execute, acknowledge, seal, and deliver a deed, revocation,

mortgage, lease, notice, check, release, or other instrument the

agent considers desirable to accomplish a purpose of a transaction;

4. Prosecute, defend, submit to arbitration, settle, and

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;

Oklahoma Statutes - Title 15. Contracts

5. Seek on the principal's behalf the assistance of a court to

carry out an act authorized by the power of attorney;

6. Engage, compensate, and discharge an attorney, accountant,

expert witness, or other assistant;

7. Keep appropriate records of each transaction, including an

accounting of receipts and disbursements;

8. Prepare, execute, and file a record, report, or other

document the agent considers desirable to safeguard or promote the

principal's interest under a statute or governmental regulation;

9. Reimburse the agent for expenditures properly made by the

agent in exercising the powers granted by the power of attorney; and

10. In general, do any other lawful act with respect to the

subject.

Added by Laws 1998, c. 420, § 5, eff. Nov. 1, 1998.