Maine Revised Statutes Title 18-C Sec. 5-936 – Stocks and bonds
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Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to stocks and bonds authorizes the agent to: [PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
1. Buy, sell and exchange. Buy, sell and exchange stocks and bonds;
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
Terms Used In Maine Revised Statutes Title 18-C Sec. 5-936
- 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
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality or any other legal or commercial entity. See Maine Revised Statutes Title 18-C Sec. 5-902
- 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
- Stocks and bonds: means stocks, bonds, mutual funds and all other types of securities and financial instruments, whether held directly, indirectly or in any other manner. See Maine Revised Statutes Title 18-C Sec. 5-902
2. Stocks and bonds account. Establish, continue, modify or terminate an account with respect to stocks and bonds;
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
3. Security. Pledge stocks and bonds as security to borrow, pay, renew or extend the time of payment of a debt of the principal;
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
4. Evidences of ownership. Receive certificates and other evidences of ownership with respect to stocks and bonds; and
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
5. Voting rights. Exercise voting rights with respect to stocks and bonds in person or by proxy, enter into voting trusts and consent to limitations on the right to vote.
[PL 2017, c. 402, Pt. A, §2 (NEW); PL 2019, c. 417, Pt. B, §14 (AFF).]
SECTION HISTORY
PL 2017, c. 402, Pt. A, §2 (NEW). PL 2017, c. 402, Pt. F, §1 (AFF). PL 2019, c. 417, Pt. B, §14 (AFF).