(1) 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:
Demand, buy, receive, accept as a gift or as security for an extension of credit, orotherwise 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 personalproperty on behalf of the principal, including:
Insuring against liability or casualty or other loss;
Obtaining or regaining possession of or protecting the property or interest, by litigation or otherwise;
Paying, assessing, compromising, or contesting taxes or assessments or applying forand receiving refunds in connection with taxes or assessments;
Moving the property from place to place;
Storing the property for hire or on a gratuitous bailment; and
Using and making repairs, alterations, or improvements to the property; and(f) Change the form of title of an interest in tangible personal property.
Source: L. 2009: Entire part added, (HB 09-1198), ch. 106, p. 400, § 1, effective April 9.