Section 1-351e. – General authority with respect to stocks and bonds.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to stocks and bonds authorizes the agent to: (1) Buy, sell and exchange stocks and bonds; (2) Establish, continue, modify or terminate an account with respect to stocks and bonds; (3) Pledge stocks and bonds as security […]
Section 1-353b. – Effect on existing powers of attorney.
(a) Except as otherwise provided in sections 1-350 to 1-353b, inclusive, on and after October 1, 2016, said sections apply to: (1) A power of attorney created before, on, or after October 1, 2016; (2) A judicial proceeding concerning a power of attorney commenced on or after October 1, 2016; and (3) A judicial proceeding […]
Section 1-351f. – General authority with respect to commodities and options.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to commodities and options authorizes the agent to: (1) Buy, sell, exchange, assign, settle and exercise commodity futures contracts and call or put options on stocks or stock indexes traded on a regulated option exchange; and (2) […]
Section 1-351g. – General authority with respect to banks and other financial institutions.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to: (1) Continue, modify and terminate an account or other banking arrangement made by or on behalf of the principal; (2) Establish, modify, and terminate an account or […]
Section 1-351h. – General authority with respect to 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 […]
Section 1-351i. – General authority with respect to 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 […]
Section 1-351j. – General authority with respect to estates, trusts and other beneficial interests.
(a) For purposes of 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 […]
Section 1-351k. – General authority with respect to 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 […]
Section 1-351l. – General authority with respect to 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 other individuals, whether living when the […]
Section 1-351m. – General authority with respect to benefits from governmental programs or civil or military service.
(a) For purposes of this section, “benefits from governmental programs or civil or military service” means any benefit, program or assistance provided under a federal or state 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 […]