[§551E‑35] Tangible personal property.
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/hi/551e-23A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§551E‑35] 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 shall authorize 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 an interest in tangible personal property;
(2)Sell; exchange; convey with or without covenants, representations, or warranties; quitclaim; release; surrender; create a security interest in; grant options concerning; lease; sublease; or otherwise dispose of tangible personal property or an interest in tangible personal property;
(3)Grant a security interest in tangible personal property or an interest in tangible personal property as security to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;
(4)Release, assign, satisfy, or enforce by litigation or otherwise, a security interest, lien, or other claim on behalf of the principal, with respect to tangible personal property or an interest in tangible personal property;
(5)Manage or conserve tangible personal property or an interest in tangible personal 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 or interest, by litigation or otherwise;
(C)Paying, assessing, compromising, or contesting taxes or assessments or applying 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. [L 2014, c 22, pt of §1]