Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to:
(1) Demand, buy, receive, accept as a gift or as security for an extension of credit or otherwise acquire or reject ownership or possession of tangible personal property or an interest in tangible personal property;
(2) Sell; exchange; convey with or without covenants, representations, or warranties; quitclaim; release; surrender; create a security interest in; grant options concerning; lease; sublease; or otherwise dispose of tangible personal property or an interest in tangible personal property;
(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;
(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;
(5) Manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including:
(A) Insuring against liability or casualty or other loss;
(B) Obtaining or regaining possession of or protecting the property or interest, by litigation or otherwise;
(C) Paying, assessing, compromising or contesting taxes or assessments or applying for and receiving refunds in connection with such taxes or assessments;
(D) Moving the property from place to place;
(E) Storing the property for hire or on a gratuitous bailment; and
(F) Using and making repairs, alterations or improvements to the property; and
(6) Change the form of title of an interest in tangible personal property.
(P.A. 15-240, S. 28; P.A. 16-40, S. 9.)
History: P.A. 15-240 effective July 1, 2016; P.A. 16-40 changed effective date of P.A. 15-240, S. 28, from July 1, 2016, to October 1, 2016, effective May 27, 2016.
Structure Connecticut General Statutes
Title 1 - Provisions of General Application
Section 1-350. - Short title: Connecticut Uniform Power of Attorney Act.
Section 1-350a. - Definitions.
Section 1-350b. - Applicability.
Section 1-350c. - Power of attorney is durable.
Section 1-350d. - Execution of power of attorney.
Section 1-350e. - Validity of power of attorney.
Section 1-350f. - Meaning and effect of power of attorney.
Section 1-350g. - Nomination of conservator in power of attorney.
Section 1-350h. - When power of attorney effective.
Section 1-350i. - Termination of power of attorney or agent's authority.
Section 1-350j. - Coagents and successor agents.
Section 1-350k. - Reimbursement and compensation of agent.
Section 1-350l. - Agent's acceptance.
Section 1-350m. - Agent's duties.
Section 1-350n. - Exoneration of agent.
Section 1-350o. - Judicial relief.
Section 1-350p. - Agent's liability.
Section 1-350q. - Agent's resignation. Notice.
Section 1-350r. - Acceptance of and reliance upon acknowledged power of attorney.
Section 1-350s. - Liability for refusal to accept acknowledged power of attorney.
Section 1-350t. - Principles of law and equity.
Section 1-350u. - Laws applicable to financial institutions or other entities.
Section 1-350v. - Remedies under other law.
Section 1-351. - Authority that requires specific grant. Grant of general authority.
Section 1-351a. - Incorporation of authority.
Section 1-351b. - Construction of authority, generally.
Section 1-351c. - General authority with respect to real property.
Section 1-351d. - General authority with respect to tangible personal property.
Section 1-351e. - General authority with respect to stocks and bonds.
Section 1-351f. - General authority with respect to commodities and options.
Section 1-351g. - General authority with respect to banks and other financial institutions.
Section 1-351h. - General authority with respect to operation of entity or business.
Section 1-351i. - General authority with respect to insurance and annuities.
Section 1-351j. - General authority with respect to estates, trusts and other beneficial interests.
Section 1-351k. - General authority with respect to claims and litigation.
Section 1-351l. - General authority with respect to personal and family maintenance.
Section 1-351n. - General authority with respect to retirement plans.
Section 1-351o. - General authority with respect to taxes.
Section 1-351p. - General authority with respect to gifts.
Section 1-352. - Power of attorney short form, long form and optional information form.
Section 1-352a. - Agent's certification.
Section 1-353. - Uniformity of application and construction.
Section 1-353a. - Relation to Electronic Signatures in Global and National Commerce Act.
Section 1-353b. - Effect on existing powers of attorney.
Section 1-362. - Validity of substitute decision-making document.
Section 1-363. - Meaning and effect of substitute decision-making document.
Section 1-364. - Reliance on substitute decision-making document.
Section 1-365. - Obligation to accept substitute decision-making document.
Section 1-366. - Remedies under other law.
Section 1-367. - Uniformity of application and construction.