§ 28-68-209. Operation of entity or business
Subject to the terms of a document or an agreement governing an entity or an entity ownership interest, and unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to operation of an entity or business authorizes the agent to: (1) operate, buy, sell, enlarge, reduce, or […]
§ 28-68-210. Insurance and annuities
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to insurance and annuities authorizes the agent to: (1) continue, pay the premium or make a contribution on, modify, exchange, rescind, release, or terminate a contract procured by or on behalf of the principal which insures or […]
§ 28-68-211. Estates, trusts, and other beneficial interests
(a) In this section, “estate, trust, or other beneficial interest” means a trust, probate estate, guardianship, conservatorship, escrow, or custodianship or a fund from which the principal is, may become, or claims to be, entitled to a share or payment. (b) Unless the power of attorney otherwise provides, language in a power of attorney granting […]
§ 28-68-212. Claims and litigation
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to claims and litigation authorizes the agent to: (1) assert and maintain before a court or administrative agency a claim, claim for relief, cause of action, counterclaim, offset, recoupment, or defense, including an action to recover property […]
§ 28-68-213. Personal and family maintenance
(a) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to personal and family maintenance authorizes the agent to: (1) perform the acts necessary to maintain the customary standard of living of the principal, the principal’s spouse, and the following individuals, whether living when the power […]
§ 28-68-214. Benefits from governmental programs or civil or military service
(a) In this section, “benefits from governmental programs or civil or military service” means any benefit, program, or assistance provided under a statute or regulation including Social Security, Medicare, and Medicaid. (b) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to benefits from governmental programs […]
§ 28-68-215. Retirement plans
(a) In this section, “retirement plan” means a plan or account created by an employer, the principal, or another individual to provide retirement benefits or deferred compensation of which the principal is a participant, beneficiary, or owner, including a plan or account under the following sections of the Internal Revenue Code: (1) an individual retirement […]
§ 28-68-216. Taxes
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to taxes authorizes the agent to: (1) prepare, sign, and file federal, state, local, and foreign income, gift, payroll, property, Federal Insurance Contributions Act, and other tax returns, claims for refunds, requests for extension of time, petitions […]
§ 28-68-217. Gifts
(a) In this section, a gift “for the benefit of” a person includes a gift to a trust, an account under the Uniform Transfers to Minors Act, and a tuition savings account or prepaid tuition plan as defined under Internal Revenue Code Section 529, 26 U.S.C. Section 529, as it existed on January 1, 2011. […]
§ 28-68-301. Statutory form power of attorney
A document substantially in the following form may be used to create a statutory form power of attorney that has the meaning and effect prescribed by this chapter. ARKANSAS STATUTORY FORM POWER OF ATTORNEY IMPORTANT INFORMATION This power of attorney authorizes another person (your agent) to make decisions concerning your property for you (the principal). […]