556.307 Authority of agent; commodities and options.
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556.307 Authority of agent; commodities and options.
Sec. 207.
Unless the power of attorney provides otherwise, language in a power granting general authority with respect to commodities and options authorizes the agent to do the following:
(a)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.
(b)Establish, continue, modify, and terminate option accounts.
History: 2023, Act 187 , Eff. July 1, 2024