§58-3028. Tangible personal property.
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to: 1. Demand, buy, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject ownership or possession of tangible personal property or […]
§58-3029. 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 […]
§58-3030. 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. […]
§58-3031. 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 […]
§58-3032. 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 […]
§58-3033. 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 […]
§58-3018. Agent’s resignation – Notice.
Unless the power of attorney provides a different method for an agent’s resignation, an agent may resign by giving notice to the principal and, if the principal is incapacitated: 1. To the guardian, if one has been appointed for the principal, and a coagent or successor agent; or 2. If there is no person described […]
§58-3034. 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 […]
§58-3019. Acceptance of and reliance upon acknowledged power of attorney.
A. For purposes of this section and Section 20 of this act, “acknowledged” means purportedly verified before a notary public or other individual authorized to take acknowledgements. B. A person that in good faith accepts an acknowledged power of attorney without actual knowledge that the signature is not genuine may rely upon the presumption under […]
§58-3035. 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 […]