Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to commodities and options authorizes the agent to:
(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
(2) establish, continue, modify, and terminate option accounts.
Structure Code of Alabama
Title 26 - Infants and Incompetents.
Chapter 1A - Alabama Uniform Power of Attorney.
Section 26-1A-201 - Authority That Requires Specific Grant; Grant of General Authority.
Section 26-1A-202 - Incorporation of Authority.
Section 26-1A-203 - Construction of Authority Generally.
Section 26-1A-204 - Real Property.
Section 26-1A-205 - Tangible Personal Property.
Section 26-1A-206 - Stocks and Bonds.
Section 26-1A-207 - Commodities and Options.
Section 26-1A-208 - Banks and Other Financial Institutions.
Section 26-1A-209 - Operation of Entity or Business.
Section 26-1A-210 - Insurance and Annuities.
Section 26-1A-211 - Estates, Trusts, and Other Beneficial Interests.
Section 26-1A-212 - Claims and Litigation.
Section 26-1A-213 - Personal and Family Maintenance.
Section 26-1A-214 - Benefits From Governmental Programs or Civil or Military Service.