Section 564-E:205 - 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 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.Added by 2017, 178:1, eff. 1/1/2018. 2017, 178:1, eff. Jan. 1, 2018.