Form F-00036 - Designation Of Agent Page 11
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15(2) Perform a duty or discharge a liability and
(4) Withdraw, by check, order, electronic funds
exercise in person or by proxy a right, power,
transfer, or otherwise, money or property of the
privilege, or option that the principal has, may have,
principal deposited with or left in the custody of a
or claims to have.
financial institution.
(3) Enforce the terms of an ownership agreement.
(5) Receive statements of account, vouchers,
notices, and similar documents from a financial
(4) Initiate, participate in, submit to alternative
institution and act with respect to them.
dispute resolution, settle, oppose, or propose or
accept a compromise with respect to litigation to
(6) Enter a safe deposit box or vault and withdraw
which the principal is a party because of an
or add to the contents.
ownership interest.
(7) Borrow money and pledge as security personal
(5) Exercise in person or by proxy, or enforce by
property of the principal necessary to borrow
litigation or otherwise, a right, power, privilege, or
money or pay, renew, or extend the time of
option the principal has or claims to have as the
payment of a debt of the principal or a debt
holder of stocks and bonds.
guaranteed by the principal.
(6) Initiate, participate in, submit to alternative
(8) Make, assign, draw, endorse, discount,
dispute resolution, settle, oppose, or propose or
guarantee, and negotiate promissory notes,
accept a compromise with respect to litigation to
checks, drafts, and other negotiable or
which the principal is a party concerning stocks and
nonnegotiable paper of the principal or payable to
bonds.
the principal or the principal’s order; transfer
money, receive the cash or other proceeds of those
(7) With respect to an entity or business owned
transactions; and accept a draft drawn by a person
solely by the principal, do all of the following:
upon the principal and pay it when due.
(a) Continue, modify, renegotiate, extend, and
(9) Receive for the principal and act upon a sight
terminate a contract made by or on behalf of the
draft, warehouse receipt, or other document of title
principal with respect to the entity or business
whether tangible or electronic, or other negotiable
before execution of the power of attorney.
or nonnegotiable instrument.
(b) Determine all of the following:
(10) Apply for, receive, and use letters of credit,
1. The location of its operation.
credit and debit cards, electronic transaction
2. The nature and extent of its business.
authorizations, and traveler’s checks from a
financial institution and give an indemnity or other
3. The methods of manufacturing, selling,
agreement in connection with letters of credit.
merchandising, financing, accounting, and
advertising employed in its operation.
(11) Consent to an extension of the time of
payment with respect to commercial paper or a
4. The amount and types of insurance carried.
financial transaction with a financial institution.
5. The mode of engaging, compensating, and
dealing with its employees and accountants,
attorneys, or other advisors.
244.49 Operation of entity or business. Subject
to the terms of a document or an agreement
(c) Change the name or form of organization under
governing an entity or business or an entity or
which the entity or business is operated and enter
business ownership interest, and unless the power
into an ownership agreement with other persons to
of attorney otherwise provides, language in a power
take over all or part of the operation of the entity or
of attorney granting general authority with respect
business.
to operation of an entity or business authorizes the
agent to do all of the following:
(1) Operate, buy, sell, enlarge, reduce, or terminate
an ownership interest.
Page 3
Power of Attorney for Finances Appendix – Statutory Authority Definitions
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