49-1545 General Power for Bank and Financial Transactions, defined. - Nebraska Statutes

49-1545. General Power for Bank and Financial Transactions, defined.The short form expression, General Power for Bank and Financial Transactions, shall mean that the principal, in connection with or with respect to any account, any bank or financial institution, any custodial or protective facility, or any financial instrument, 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 Insolvency Proceedings, 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 accept, assign, cash, collect, deliver, discount, draw, endorse, extend, guarantee, honor, make, negotiate, pay, postpone, present, protest, receive, renew, sign, or omit or take any other action as to any bill, check, coupon, draft, receipt, voucher, warrant, or other financial instrument, to acquire, surrender, or use any letters of credit or travelers checks issued by any bank or financial institution, to borrow from, give indemnity, security, or both to, lend to, take indemnity, security, or both from, or omit or take any other action as to any borrower, lender, or financial institution, to close, continue, deposit in, maintain, modify, open, terminate, or withdraw from any check, deposit, savings, or other account or any other arrangement with any bank or other financial institution, to exercise access to, rent, use, or vacate any safety deposit box, protective or security facility, or vault space in any bank, financial institution, or other entity, to receive, respond to, or make any other use of any bank statement, canceled check, deposit slip, draft, notice, voucher, or other document given, issued, or produced by any bank or other financial institution, and otherwise generally to act or decide as to any bank or financial transaction or related circumstance, 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, § 45.