72-31-225. Construction of power relating to tangible personal property transactions. - Montana Statutes

     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.