Montana § 72-31-340 Tangible Personal Property

Montana Statutes

§ 72-31-340 — Tangible Personal Property

Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 31 MISCELLANEOUS PROVISIONS RELATING TO FIDUCIARIES·Part 3 Uniform Power of Attorney Act

72-31-340 . Tangible personal property. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to:

(1)demand, buy, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject ownership or possession of tangible personal property or an interest in tangible personal property;

(2)sell, exchange, convey with or without covenants, representations, or warranties, quitclaim, release, surrender, create a security interest in, grant options concerning, lease, sublease, or otherwise dispose of tangible personal property or an interest in tangible personal property;

(3)grant a security interest in tangible personal property or an interest in t

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72-31-340 . Tangible personal property. Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to:
(1) demand, buy, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject ownership or possession of tangible personal property or an interest in tangible personal property;
(2) sell, exchange, convey with or without covenants, representations, or warranties, quitclaim, release, surrender, create a security interest in, grant options concerning, lease, sublease, or otherwise dispose of tangible personal property or an interest in tangible personal property;
(3) grant a security interest in tangible personal property or an interest in tangible personal property as security to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;
(4) release, assign, satisfy, or enforce, by litigation or otherwise, a security interest, lien, or other claim on behalf of the principal with respect to tangible personal property or an interest in tangible personal property;
(5) manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including:
(a) insuring against liability or casualty or other loss;
(b) obtaining or regaining possession or protecting the property or interest, by litigation or otherwise;
(c) paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments;
(d) moving the property from place to place;
(e) storing the property for hire or on a gratuitous bailment; and
(f) using and making repairs, alterations, or improvements to the property; and
(6) change the form of title of an interest in tangible personal property.

Montana § 72-31-340 (Tangible Personal Property) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

En. Sec. 3, Ch. 580, L. 1991; amd. Sec. 117, Ch. 494, L. 1993; Sec. 72-31-203 , MCA 1991; redes. 72-31-225 by Code Commissioner, 1993; amd. Sec. 31, Ch. 109, L. 2011; Sec. 72-31-225 , MCA 2009; redes. 72-31-340 by Code Commissioner, 2011.