Unless the power of attorney otherwise provides and subject to Section 62-8-201, 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 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;
(6) change the form of title of an interest in tangible personal property; and
(7) take possession and order the removal and shipment of property of the principal from a post, warehouse, depot, dock, or other place of storage or safekeeping, either governmental or private, and execute and deliver a release, voucher, receipt, bill of lading, shipping ticket, certificate, or other instrument for that purpose.
HISTORY: 2016 Act No. 279 (S.778), Section 1, eff January 1, 2017.
Structure South Carolina Code of Laws
Title 62 - South Carolina Probate Code
Article 8 - South Carolina Uniform Power Of Attorney Act
Section 62-8-101. Short title.
Section 62-8-102. Definitions.
Section 62-8-103. Applicability.
Section 62-8-104. Power of attorney is durable.
Section 62-8-105. Execution of power of attorney.
Section 62-8-106. Validity of power of attorney.
Section 62-8-107. Meaning and effect of power of attorney.
Section 62-8-109. When power of attorney effective.
Section 62-8-110. Termination of power of attorney or agent's authority.
Section 62-8-111. Coagents and successor agents.
Section 62-8-112. Reimbursement and compensation of agent.
Section 62-8-113. Agent's acceptance.
Section 62-8-114. Agent's duties.
Section 62-8-115. Exoneration of agent.
Section 62-8-116. Judicial relief.
Section 62-8-117. Agent's liability.
Section 62-8-118. Agent's resignation; notice.
Section 62-8-119. Acceptance of and reliance upon acknowledged power of attorney; form.
Section 62-8-120. Liability for refusal to accept acknowledged power of attorney.
Section 62-8-121. Principles of law and equity.
Section 62-8-122. Laws applicable to financial institutions and entities.
Section 62-8-123. Remedies under other law.
Section 62-8-201. Authority that requires specific grant; grant of general authority.
Section 62-8-202. Incorporation of authority.
Section 62-8-203. Construction of authority generally.
Section 62-8-204. Real property.
Section 62-8-205. Tangible personal property.
Section 62-8-206. Stocks and bonds.
Section 62-8-207. Commodities and options.
Section 62-8-208. Banks and other financial institutions.
Section 62-8-209. Operation of entity or business.
Section 62-8-210. Insurance and annuities.
Section 62-8-211. Estates, trusts, and other beneficial interests.
Section 62-8-212. Claims and litigation.
Section 62-8-213. Personal and family maintenance.
Section 62-8-214. Benefits from governmental programs or civil or military service.
Section 62-8-215. Retirement plans.
Section 62-8-401. Jurisdiction.
Section 62-8-402. Relation to Electronic Signatures in Global and National Commerce Act.