Maine Revised Statutes Title 18-C Sec. 5-931 – Authority that requires specific grant; grant of general authority

1. Specific grant of authority required. An agent under a power of attorney may do the following on behalf of the principal or with the principal’s property only if the power of attorney expressly grants the agent the authority and exercise of the authority is not otherwise prohibited by another agreement or instrument to which the authority or property is subject:

A. Create, amend, revoke or terminate an inter vivos trust; [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]

B. Make a gift; [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]

C. Create or change rights of survivorship; [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]

D. Create or change a beneficiary designation. The authority under this paragraph, unless otherwise expressly limited in the power of attorney, includes the authority to create, change or revoke a transfer on death deed as defined in section 6?402, subsection 6; [PL 2019, c. 598, §6 (AMD).]

E. Delegate authority granted under the power of attorney; [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]

F. Waive the principal’s right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan; [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]

G. Exercise fiduciary powers that the principal has authority to delegate; [PL 2019, c. 417, Pt. A, §100 (AMD).]

H. Disclaim property, including a power of appointment; and [PL 2019, c. 417, Pt. A, §100 (AMD).]

I. Exercise authority over the content of an electronic communication of the principal in accordance with the Maine Revised Uniform Fiduciary Access to Digital Assets Act. [PL 2019, c. 417, Pt. A, §101 (NEW).]

[PL 2019, c. 598, §6 (AMD).]

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Terms Used In Maine Revised Statutes Title 18-C Sec. 5-931

Agent: includes an original agent, coagent, successor agent and a person to whom an agent's authority is delegated. See Maine Revised Statutes Title 18-C Sec. 5-902
Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
Deed: The legal instrument used to transfer title in real property from one person to another.
Domestic partner: means one of 2 unmarried adults who are domiciled together under long-term arrangements that evidence a commitment to remain responsible indefinitely for each other's welfare. See Maine Revised Statutes Title 1 Sec. 72
Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic or similar capabilities. See Maine Revised Statutes Title 18-C Sec. 5-902
Fiduciary: A trustee, executor, or administrator.
Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
Inter vivos: Transfer of property from one living person to another living person.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
Power of attorney: means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term "power of attorney" is used. See Maine Revised Statutes Title 18-C Sec. 5-902
Principal: means an individual who grants authority to an agent in a power of attorney. See Maine Revised Statutes Title 18-C Sec. 5-902
Property: means anything that may be the subject of ownership, whether real or personal or legal or equitable, or any interest or right therein. See Maine Revised Statutes Title 18-C Sec. 5-902
Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
State: includes an Indian tribe or band recognized by federal law or formally acknowledged by a state. See Maine Revised Statutes Title 18-C Sec. 5-102

2. Limitation on creating interest in principal’s property. Notwithstanding a grant of authority to do an act described in subsection 1, unless the power of attorney otherwise provides, an agent that is not an ancestor, spouse, domestic partner or descendant of the principal may not exercise authority under a power of attorney to create in the agent, or in an individual to whom the agent owes a legal obligation of support, an interest in the principal’s property, whether by gift, right of survivorship, beneficiary designation, disclaimer or otherwise.

[PL 2021, c. 567, §14 (AMD).]

3. General authority. Subject to subsections 1, 2, 4 and 5, if a power of attorney grants to an agent authority to do all acts that a principal could do, the agent has the general authority described in sections 5?934 to 5?946.