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Delaware Laws | Title 12 Decedents' Estates and Fiduciary Relations
CHAPTER 49A. DURABLE PERSONAL POWERS OF ATTORNEY ACT
Subchapter II. Authority

(3) 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; (6397)

(4) 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; (6398)

(5) Manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including: (6399)

a. Insuring against liability or casualty or other loss; (6400)

b. Obtaining or regaining possession of or protecting the property or interest, by litigation or otherwise; (6401)

c. Paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments; (6402)

d. Moving the property from place to place; (6403)

e. Storing the property for hire or on a gratuitous bailment; and (6404)

f. Using and making repairs, alterations, or improvements to the property; and (6405)

(6) Change the form of title of an interest in tangible personal property. (6406)

(77 Del. Laws, c. 467, Sec. 4.) (6407)

Sec. 49A-206. Stocks and bonds. (6408)(Text)

Unless the personal power of attorney otherwise provides, language in a personal power of attorney granting general authority with respect to stocks and bonds authorizes the agent to: (6409)

(1) Buy, sell, and exchange stocks and bonds; (6410)

(2) Establish, continue, modify, or terminate an account with respect to stocks and bonds; (6411)

(3) Pledge stocks and bonds as security to borrow, pay, renew, or extend the time of payment of a debt of the principal; (6412)

(4) Receive certificates and other evidences of ownership with respect to stocks and bonds; and (6413)

(5) Exercise voting rights with respect to stocks and bonds in person or by proxy, enter into voting trusts, and consent to limitations on the right to vote. (6414)

(77 Del. Laws, c. 467, Sec. 4.) (6415)

Sec. 49A-207. Commodities and options. (6416)(Text)

Unless the personal power of attorney otherwise provides, language in a personal power of attorney granting general authority with respect to commodities and options authorizes the agent to: (6417)

(1) Buy, sell, exchange, assign, settle, and exercise commodity futures contracts and call or put options on stocks or stock indexes traded on a regulated option exchange; and (6418)

(2) Establish, continue, modify, and terminate option accounts. (6419)

(77 Del. Laws, c. 467, Sec. 4.) (6420)

Sec. 49A-208. Banks and other financial institutions. (6421)(Text)

Unless the personal power of attorney otherwise provides, language in a personal power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to: (6422)

(1) Continue, modify, and terminate an account or other banking arrangement made by or on behalf of the principal; (6423)

(2) Establish, modify, and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm, or other financial institution selected by the agent; (6424)

(3) Contract for services available from a financial institution, including renting a safe deposit box or space in a vault; (6425)

(4) Withdraw, by check, order, electronic funds transfer, or otherwise, money or property of the principal deposited with or left in the custody of a financial institution; (6426)

(5) Receive statements of account, vouchers, notices, and similar documents from a financial institution and act with respect to them; (6427)

(6) Enter a safe deposit box or vault and withdraw or add to the contents; (6428)

(7) Borrow money and pledge as security personal property of the principal necessary 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; (6429)

(8) Make, assign, draw, endorse, discount, guarantee, and negotiate promissory notes, checks, drafts, and other negotiable or nonnegotiable paper of the principal or payable to the principal or the principal's order, transfer money, receive the cash or other proceeds of those transactions, and accept a draft drawn by a person upon the principal and pay it when due; (6430)

(9) Receive for the principal and act upon a sight draft, warehouse receipt, or other document of title whether tangible or electronic, or other negotiable or nonnegotiable instrument; (6431)

(10) Apply for, receive, and use letters of credit, credit and debit cards, electronic transaction authorizations, and traveler's checks from a financial institution and give an indemnity or other agreement in connection with letters of credit; and (6432)

(11) Consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution. (6433)

(77 Del. Laws, c. 467, Sec. 4.) (6434)

Sec. 49A-209. Operation of entity or business. (6435)(Text)

Subject to the terms of a document or an agreement governing an entity or an entity ownership interest (a "governing document") and to applicable laws governing such entity or entity ownership interest, and unless the personal power of attorney otherwise provides, language in a personal power of attorney granting general authority with respect to operation of an entity or business authorizes the agent to: (6436)

(1) Operate, buy, sell, enlarge, reduce, or terminate an ownership interest; (6437)

(2) Perform a duty or discharge a liability and exercise in person or by proxy a right, power, privilege, or option that the principal has, may have, or claims to have; (6438)

(3) Enforce the terms of, and exercise rights of the principal pursuant to, the governing document; (6439)

(4) Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to which the principal is a party because of an ownership interest; (6440)

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