Sec. 7. "Power of attorney" means a writing or other record that grants authority to an attorney in fact or agent to act in place of a principal, whether the term "power of attorney" is used. The term refers to all types of powers of attorney, including durable powers of attorney, except for the following: (1) A power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a credit in connection with a credit transaction. (2) A proxy or other delegation to exercise voting rights or management rights with respect to an entity. (3) A power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose.
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