72-31-346. Estates, trusts, and other beneficial interests.
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72-31-346 . Estates, trusts, and other beneficial interests.
(1)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.
(2)Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to an estate, trust, or other beneficial interest authorizes the agent to:
(a)accept, receive, receipt for, sell, assign, pledge, or exchange a share in or payment from the fund;
(b)demand or obtain money or another thing of value to which the principal is, may become, or claims to be entitled by reason of the fund, by litigation or otherwise;
(c)exercise for the benefit of the principal a presently exercisable general power of appointment held by the principal;
(d)initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to ascertain the meaning, validity, or effect of a deed, will, declaration of trust, or other instrument or transaction affecting the interest of the principal;
(e)initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to remove, substitute, or surcharge a fiduciary;
(f)conserve, invest, disburse, or use anything received for an authorized purpose; and
(g)transfer an interest of the principal in real property, stocks and bonds, accounts with financial institutions or securities intermediaries, insurance, annuities, and other property to the trustee of a revocable trust created by the principal as settlor.