Okla. Stat. tit. 15, § 15-1005
This is the official text of Okla. Stat. tit. 15, § 15-1005, part of Oklahoma’s Stat. tit. 15, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 15,." Browse the sections below, each linked to its official government source.
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Construction of power generally
Official statutory text
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 Page 224
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.
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 Page 224
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.
Status: in_force · Read it on the official government site
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