72-31-225. Construction of power relating to tangible personal property transactions. In a statutory power of attorney, the language granting power with respect to tangible personal property transactions empowers the agent to: (1) accept as a gift or as security for a loan, reject, demand, buy, receive, or otherwise acquire ownership or possession of tangible personal property or an interest in tangible personal property; (2) sell, exchange, convey with or without covenants, release, surrender, mortgage, encumber, pledge, hypothecate, create a security interest in, pawn, grant options concerning, lease, sublease to others, or otherwise dispose of tangible personal property or an interest in tangible personal property; (3) release, assign, satisfy, or enforce, by litigation or otherwise, a mortgage, security interest, encumbrance, lien, or other claim on behalf of the principal with respect to tangible personal property or an interest in tangible personal property; and (4) do an act of management or conservation with respect to tangible personal property or an interest in tangible personal property on behalf of the principal, including: (a) insuring against casualty, liability, or loss; (b) obtaining or regaining possession or protecting the property or interest, by litigation or otherwise; (c) paying, compromising or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments; (d) moving from place to place; (e) storing for hire or on gratuitous bailment; and (f) using, altering, and making repairs or alterations.
History: En. Sec. 3, Ch. 580, L. 1991; amd. Sec. 117, Ch. 494, L. 1993; Sec. 72-31-203, MCA 1991; redes. 72-31-225 by Code Commissioner, 1993.
72-31-225. Construction of power relating to tangible personal property transactions. In a statutory power of attorney, the language granting power with respect to tangible personal property transactions empowers the agent to: (1) accept as a gift or as security for a loan, reject, demand, buy, receive, or otherwise acquire ownership or possession of tangible personal property or an interest in tangible personal property; (2) sell, exchange, convey with or without covenants, release, surrender, mortgage, encumber, pledge, hypothecate, create a security interest in, pawn, grant options concerning, lease, sublease to others, or otherwise dispose of tangible personal property or an interest in tangible personal property; (3) release, assign, satisfy, or enforce, by litigation or otherwise, a mortgage, security interest, encumbrance, lien, or other claim on behalf of the principal with respect to tangible personal property or an interest in tangible personal property; and (4) do an act of management or conservation with respect to tangible personal property or an interest in tangible personal property on behalf of the principal, including: (a) insuring against casualty, liability, or loss; (b) obtaining or regaining possession or protecting the property or interest, by litigation or otherwise; (c) paying, compromising or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments; (d) moving from place to place; (e) storing for hire or on gratuitous bailment; and (f) using, altering, and making repairs or alterations.
History: En. Sec. 3, Ch. 580, L. 1991; amd. Sec. 117, Ch. 494, L. 1993; Sec. 72-31-203, MCA 1991; redes. 72-31-225 by Code Commissioner, 1993.
72-31-225. Construction of power relating to tangible personal property transactions. In a statutory power of attorney, the language granting power with respect to tangible personal property transactions empowers the agent to: (1) accept as a gift or as security for a loan, reject, demand, buy, receive, or otherwise acquire ownership or possession of tangible personal property or an interest in tangible personal property; (2) sell, exchange, convey with or without covenants, release, surrender, mortgage, encumber, pledge, hypothecate, create a security interest in, pawn, grant options concerning, lease, sublease to others, or otherwise dispose of tangible personal property or an interest in tangible personal property; (3) release, assign, satisfy, or enforce, by litigation or otherwise, a mortgage, security interest, encumbrance, lien, or other claim on behalf of the principal with respect to tangible personal property or an interest in tangible personal property; and (4) do an act of management or conservation with respect to tangible personal property or an interest in tangible personal property on behalf of the principal, including: (a) insuring against casualty, liability, or loss; (b) obtaining or regaining possession or protecting the property or interest, by litigation or otherwise; (c) paying, compromising or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments; (d) moving from place to place; (e) storing for hire or on gratuitous bailment; and (f) using, altering, and making repairs or alterations.
History: En. Sec. 3, Ch. 580, L. 1991; amd. Sec. 117, Ch. 494, L. 1993; Sec. 72-31-203, MCA 1991; redes. 72-31-225 by Code Commissioner, 1993.