18-C §5-938. Banks and other financial institutions
§5-938. 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: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Banking arrangement by […]
18-C §5-939. Operation of entity or business
§5-939. 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: […]
18-C §5-940. Insurance and annuities
§5-940. 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: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Insurance or annuity contract procured by principal. […]
18-C §5-941. Estate, trust and other beneficial interest
§5-941. Estate, trust and other beneficial interest 1. Definition. As used in this section, “estate, trust and 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. [PL 2017, c. 402, […]
18-C §5-942. Claims and litigation
§5-942. 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: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] 1. Assert and maintain claim. Assert and maintain […]
18-C §5-943. Personal and family maintenance
§5-943. Personal and family maintenance 1. General authority. 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: A. Perform the acts necessary to maintain the customary standard of living of the principal, the principal’s spouse or […]
18-C §5-921. Principles of law and equity
§5-921. Principles of law and equity Unless displaced by a provision of this Part, the principles of law and equity supplement this Part. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. […]
18-C §5-922. Laws applicable to financial institutions and entities
§5-922. Laws applicable to financial institutions and entities This Part does not supersede any other law applicable to financial institutions or other entities, and the other law controls if inconsistent with this Part. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. […]
18-C §5-923. Remedies under other law
§5-923. Remedies under other law The remedies under this Part are not exclusive and do not abrogate any right or remedy under the law of this State other than this Part. [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).] SECTION HISTORY PL 2017, c. 402, Pt. […]
18-C §5-931. Authority that requires specific grant; grant of general authority
§5-931. Authority that requires specific grant; grant of general authority 1. Specific grant of authority required. An agent under a power of attorney may do the following on behalf of the principal or with the principal’s property only if the power of attorney expressly grants the agent the authority and exercise of the authority is […]