State Codes and Statutes

Statutes > Nebraska > Chapter49 > 49-1546

49-1546. General Power for Business Interests, defined.The short form expression, General Power for Business Interests, shall mean that the principal, in connection with or with respect to any corporate or other bond, stock, warrant, or other security, any general, limited, or other partnership interest, any limited liability company interest, or any sole proprietorship or similar endeavor or enterprise, whether or not any of them is specifically described or named, generally authorizes and empowers the agent to have and to exercise collectively or singly and concurrently or consecutively any one or more in combination or otherwise of each of Specific Authority for Acquisitions, Specific Authority for Ancillary Matters, Specific Authority for Assistants, Specific Authority for Claims, Specific Authority for Compensation, Specific Authority for Contracts, Specific Authority for Disclosure, Names, and Signatures, Specific Authority for Dispositions, Specific Authority for Documents, Specific Authority for Encumbrances, Specific Authority for Improvements, Specific Authority for Insolvency Proceedings, Specific Authority for Investments, Specific Authority for Proceeds, Specific Authority for Reimbursements, Specific Authority for Reorganizations, Specific Authority for Reports, Specific Authority for Taxes, and Specific Authority for Trusts, and that the principal also generally authorizes and empowers the agent to acquire, act as director, officer, member, partner, or otherwise of, enforce or make terms of agreement or other contract for, participate financially or otherwise in, or terminate in part or whole any participation in any corporation, partnership, limited liability company, or other business or investment entity, to alter in part or whole, contract, expand, initiate, operate, organize, reorganize, or terminate in part or whole and change, determine, and effectuate business, employment, financial, investment, and other policies and procedures of any sole proprietorship or similar business or investment endeavor or enterprise, to exercise in person, by limited or unrestricted proxy, or otherwise, any voting right or other power, privilege, right, or other concession of any corporation, fund, partnership, or other business or investment entity, and otherwise generally to act or decide as to any business interest or related circumstances, condition, interest, matter, property, question, or transaction as the principal might do or omit to do in person and while competent. SourceLaws 1988, LB 475, § 46; Laws 1993, LB 121, § 308.