Unless the power of attorney provides a different method for an agent's resignation, an agent may resign by giving notice to the principal and, if the principal is incapacitated:
(1) to the conservator or guardian, if one has been appointed for the principal, and a co-agent or successor agent; or
(2) if there is no person described in Paragraph (1) of this subsection, to:
(a) the principal's caregiver;
(b) another person reasonably believed by the agent to have sufficient interest in the principal's welfare; or
(c) a governmental agency having authority to protect the welfare of the principal.
History: Laws 2007, ch. 135, § 118; 1978 Comp., § 46B-1-118 recompiled as § 45-5B-118 by Laws 2011, ch. 124, § 102.
Recompilations. — Laws 2011, ch. 124, § 102 recompiled former 46B-1-118 NMSA 1978 as 45-5B-118 NMSA 1978, effective January 1, 2012.
Structure New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 5B - Uniform Power of Attorney
Section 45-5B-101 - Short title.
Section 45-5B-102 - Definitions.
Section 45-5B-103 - Applicability.
Section 45-5B-104 - Power of attorney is durable.
Section 45-5B-105 - Execution of power of attorney.
Section 45-5B-106 - Validity of power of attorney.
Section 45-5B-107 - Meaning and effect of power of attorney.
Section 45-5B-109 - When power of attorney effective.
Section 45-5B-110 - Termination of power of attorney or agent's authority.
Section 45-5B-111 - Co-agents and successor agents.
Section 45-5B-112 - Reimbursement and compensation of agent.
Section 45-5B-113 - Agent's acceptance.
Section 45-5B-114 - Agent's duties.
Section 45-5B-115 - Exoneration of agent.
Section 45-5B-116 - Judicial relief.
Section 45-5B-117 - Agent's liability.
Section 45-5B-118 - Agent's resignation; notice.
Section 45-5B-119 - Acceptance of and reliance upon acknowledged power of attorney.
Section 45-5B-120 - Liability for refusal to accept acknowledged power of attorney.
Section 45-5B-121 - Principles of law and equity.
Section 45-5B-122 - Laws applicable to financial institutions and entities.