Form F-00036 - Designation Of Agent Page 12
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15(3) Pay the premium or make a contribution on,
(d) Demand and receive money due or claimed by
modify, exchange, rescind, release, or terminate a
the principal or on the principal’s behalf in the
contract of insurance or annuity procured by the
operation of the entity or business and control and
agent.
disburse the money in the operation of the entity or
business.
(4) Apply for and receive a loan secured by a
contract of insurance or annuity.
(8) Put additional capital into an entity or business
in which the principal has an interest.
(5) Surrender and receive the cash surrender value
on a contract of insurance or annuity.
(9) Join in a plan of reorganization, consolidation,
conversion, domestication, or merger of the entity
(6) Exercise an election.
or business.
(7) Exercise investment powers available under a
(10) Sell or liquidate all or part of an entity or
contract of insurance or annuity.
business.
(8) Change the manner of paying premiums on a
(11) Establish the value of an entity or business
contract of insurance or annuity.
under a buy−out agreement to which the principal
(9) Change or convert the type of insurance or
is a party.
annuity with respect to which the principal has or
(12) Prepare, sign, file, and deliver reports,
claims to have authority described in this section.
compilations of information, returns, or other papers
(10) Apply for and procure a benefit or assistance
with respect to an entity or business and make
under a statute, rule, or regulation to guarantee or
related payments.
pay premiums of a contract of insurance on the life
(13) Pay, compromise, or contest taxes,
of the principal.
assessments, fines, or penalties and perform any
(11) Collect, sell, assign, hypothecate, borrow
other act to protect the principal from illegal or
against, or pledge the interest of the principal in a
unnecessary taxation, assessments, fines, or
contract of insurance or annuity.
penalties, with respect to an entity or business,
(12) Select the form and timing of the payment of
including attempts to recover, in any manner
proceeds from a contract of insurance or annuity.
permitted by law, money paid before or after the
execution of the power of attorney.
(13) Pay, from proceeds or otherwise, compromise
or contest, and apply for refunds in connection with,
a tax or assessment levied by a taxing authority
244.50 Insurance and annuities. Unless the
with respect to a contract of insurance or annuity or
power of attorney otherwise provides, language in a
its proceeds or liability accruing by reason of the
power of attorney granting general authority with
tax or assessment.
respect to insurance and annuities authorizes the
agent to do all of the following:
(1) Continue, pay the premium or make a
244.51 Estates, trusts, and other beneficial
contribution on, modify, exchange, rescind, release,
interests.
or terminate a contract procured by or on behalf of
(1) In this section, “estates, trusts, and other
the principal which insures or provides an annuity
beneficial interests” means a trust, probate estate,
to either the principal or another person, whether or
guardianship, conservatorship, escrow, or
not the principal is a beneficiary under the contract.
custodianship or a fund from which the principal is,
may become, or claims to be, entitled to a share or
(2) Procure new, different, and additional contracts
payment.
of insurance and annuities for the principal and the
principal’s spouse or domestic partner, children,
and other dependents, and select the amount, type
of insurance or annuity, and mode of payment.
Page 4
Power of Attorney for Finances Appendix – Statutory Authority Definitions
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