Oklahoma § 58-3024 - Authority that requires specific grant – Grant of general

§ 58-3024. 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:

1. Create, amend, revoke or terminate an inter vivos trust;

2. Make a gift;

3. Create or change rights of survivorship;

4. Create or change a beneficiary designation;

5. Delegate authority granted under the power of attorney;

Oklahoma Statutes - Title 58. Probate Procedure

6. Waive the principal's right to be a beneficiary of a joint

and survivor annuity, including a survivor benefit under a

retirement plan;

7. Exercise fiduciary powers that the principal has authority

to delegate;

8. Exercise authority over the content of electronic

communications, as defined in 18 U.S.C., Section 2510(12), as

amended, sent or received by the principal; or

9. Disclaim property, including a power of appointment.

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.

D. Unless the power of attorney otherwise provides, a grant of

authority to make a gift is subject to Section 40 of this act.

E. Subject to subsections A, B and D of this section, if the

subjects over which authority is granted in a power of attorney are

similar or overlap, the broadest authority controls.

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.

G. An act performed by an agent pursuant to a power of attorney

has the same effect and inures to the benefit of and binds the

principal and the principal's successors in interest as if the

principal had performed the act.

Added by Laws 2021, c. 332, § 24, eff. Nov. 1, 2021.