26-99 - Tangible personal property.

§ 26-99. Tangible personal property.

Unless the power of attorney otherwise provides, language in a power ofattorney granting general authority with respect to tangible personalproperty authorizes the agent to:

1. Demand, buy, receive, accept as a gift or as security for an extension ofcredit, or otherwise acquire or reject ownership or possession of tangiblepersonal property or an interest in tangible personal property;

2. Sell; exchange; convey with or without covenants, representations, orwarranties; quitclaim; release; surrender; create a security interest in;grant options concerning; lease; sublease; or otherwise dispose of tangiblepersonal property or an interest in tangible personal property;

3. Grant a security interest in tangible personal property or an interest intangible personal property as security to borrow money or pay, renew, orextend the time of payment of a debt of the principal or a debt guaranteed bythe principal;

4. Release, assign, satisfy, or enforce by litigation or otherwise, asecurity interest, lien, or other claim on behalf of the principal, withrespect to tangible personal property or an interest in tangible personalproperty;

5. Manage or conserve tangible personal property or an interest in tangiblepersonal property on behalf of the principal, including:

a. Insuring against liability or casualty or other loss;

b. Obtaining or regaining possession of or protecting the property orinterest, by litigation or otherwise;

c. Paying, assessing, compromising, or contesting taxes or assessments orapplying for and receiving refunds in connection with taxes or assessments;

d. Moving the property from place to place;

e. Storing the property for hire or on a gratuitous bailment; and

f. Using and making repairs, alterations, or improvements to the property; and

6. Change the form of title of an interest in tangible personal property.

(2010, cc. 455, 632.)