10-6B-44. 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 shall authorize the agent to:

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;#

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;#

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;#

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;#

Manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including:#

1. (A)

   Insuring against liability or casualty or other loss;#

2. (B)

   Obtaining or regaining possession of or protecting the property or interest, by litigation or otherwise;#

3. (C)

   Paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with such taxes or assessments;#

4. (D)

   Moving the property from place to place;#

5. (E)

   Storing the property for hire or on a gratuitous bailment; and#

6. (F)

   Using and making repairs, alterations, or improvements to the property; and#

Change the form of title of an interest in tangible personal property.#