Iowa Code 633B.203 – Construction of authority generally
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Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in sections 633B.204 through 633B.217 or that grants an agent authority to do all acts that a principal could do pursuant to section 633B.201, subsection 3, a principal authorizes the agent, with respect to that subject, to do all of the following:
1. Demand, receive, and obtain by litigation or otherwise, money or another thing of value to which the principal is, may become, or claims to be entitled, and conserve, invest, disburse, or use anything so received or obtained for the purposes intended.
Terms Used In Iowa Code 633B.203
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- property: includes personal and real property. See Iowa Code 4.1
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Iowa Code 651.1
- Rule: includes "regulation". See Iowa Code 4.1
- seal: shall include an impression upon the paper alone, or upon wax, a wafer affixed to the paper, or an official stamp of a notarial officer as provided in chapter 9B. See Iowa Code 4.1
- Statute: A law passed by a legislature.
2. Contract in any manner with any person, on terms agreeable to the agent, to accomplish a purpose of a transaction and perform, rescind, cancel, terminate, reform, restate, release, or modify the contract or another contract made by or on behalf of the principal.
3. Execute, acknowledge, seal, deliver, file, or record any instrument or communication the agent considers desirable to accomplish a purpose of a transaction, including but not limited to creating at any time a schedule listing some or all of the principal’s property and attaching the instrument or communication to the power of attorney.
4. Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or 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.
5. Seek on the principal’s behalf the assistance of a court or other governmental agency to carry out an act authorized in the power of attorney.
6. Engage, compensate, and discharge an attorney, accountant, discretionary investment manager, expert witness, or other advisor.
7. Prepare, execute, and file a record, report, or other document to safeguard or promote the principal’s interest under a statute, rule, or regulation.
8. Communicate with any representative or employee of a government or governmental subdivision, agency, or instrumentality, on behalf of the principal.
9. Access communications intended for, and communicate on behalf of, the principal, whether by mail, electronic transmission, telephone, or other means.
10. Do any lawful act with respect to the subject and all property related to the subject.