North Carolina General Statutes 32C-2-203. Construction of authority, generally
Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in N.C. Gen. Stat. § 32C-2-204 through N.C. Gen. Stat. § 32C-2-217 or that grants to an agent authority to do all acts that a principal could do pursuant to N.C. Gen. Stat. § 32C-2-201(d), a principal authorizes the agent, with respect to that subject, to do all of the following:
(1) Demand, receive, and obtain by litigation or otherwise, money or another thing of value to which the principal is, may become, or claims to be entitled, and conserve, invest, disburse, or use anything so received or obtained for the purposes intended.
Terms Used In North Carolina General Statutes 32C-2-203
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- 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
- property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
- seal: shall be construed to include an impression of such official seal, made upon the paper alone, as well as an impression made by means of a wafer or of wax affixed thereto. See North Carolina General Statutes 12-3
- Statute: A law passed by a legislature.
(2) Contract in any manner with any person, on terms agreeable to the agent, to accomplish a purpose of a transaction and perform, rescind, cancel, terminate, reform, restate, release, or modify the contract or another contract made by or on behalf of the principal.
(3) Execute, acknowledge, seal, deliver, file, or record any instrument or communication the agent considers desirable to accomplish a purpose of a transaction, including creating at any time a schedule listing some or all of the principal’s property and attaching it to the power of attorney.
(4) Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to a claim existing in favor of or against the principal or intervene in litigation relating to the claim.
(5) Seek on the principal’s behalf the assistance of a court or other governmental agency to carry out an act authorized in the power of attorney.
(6) Engage, compensate, and discharge an attorney, accountant, discretionary investment manager, expert witness, or other advisor.
(7) Prepare, execute, and file a record, report, or other document to safeguard or promote the principal’s interest under a statute or regulation.
(8) Communicate with any representative or employee of a government or governmental subdivision, agency, or instrumentality, on behalf of the principal.
(9) Access communications intended for, and communicate on behalf of the principal, whether by mail, electronic transmission, telephone, or other means.
(10) Do any lawful act with respect to the subject and all property related to the subject. (2017-153, s. 1; 2018-142, s. 31(c).)