49-1557 Plenary power, how construed. - Nebraska Statutes

49-1557. Plenary power, how construed.Reference to or other use in a statutory short form or other version of a power of attorney, in the identical indicated words and not in any other formulation of words, of the exact short form expression, plenary power, shall be equivalent to the use of, shall be construed and interpreted with the force and to the effect of, and shall be deemed to incorporate at length and in full the provisions of the full expression, as further expanded by any additional incorporation required by reference to or use of other provisions of the Nebraska Short Form Act to be effected, and shall mean that the principal generally and universally 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 General Power for Bank and Financial Transactions, General Power for Business Interests, General Power for Chattels and Goods, General Power for Disputes and Litigation, General Power for Domestic and Personal Concerns, General Power for Fiduciary Relationships, General Power for Governmental and Other Benefits, General Power for Insurance Coverages and Policies, General Power for Proprietary Interests and Materials, General Power for Real Estate, General Power for Securities, and General Power for Records, Reports, and Statements, and that the principal generally and universally authorizes and empowers the agent to act as and to be an alter ego of the principal as to anything and everything not otherwise fully within the scope of such enumerated general powers and to the full extent permissible and practicable for any person as an agent to do or omit to do for, in place of, or on behalf of another person as a principal and without reservation or restriction as to any 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, § 57.