(a)Subject to the terms of a document or an agreement
governing an entity or an entity ownership interest and unless
the power of attorney otherwise provides, language in a power of
attorney granting general authority with respect to operation of
an entity or business authorizes the agent to:
(i)Operate, buy, sell, enlarge, reduce or terminate
an ownership interest;
(ii)Perform a duty or discharge a liability and
exercise in person or by proxy a right, power, privilege or
option the principal has, may have or claims to have;
(iii)Enforce the terms of an ownership agreement;
(iv)Initiate, participate in, submit to alternative
dispute resolution, settle, oppose or propose or accept a
compromise with respect to litigation to which the principal is
a party because of an ownership interest
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(a) Subject to the terms of a document or an agreement
governing an entity or an entity ownership interest and unless
the power of attorney otherwise provides, language in a power of
attorney granting general authority with respect to operation of
an entity or business authorizes the agent to:
(i) Operate, buy, sell, enlarge, reduce or terminate
an ownership interest;
(ii) Perform a duty or discharge a liability and
exercise in person or by proxy a right, power, privilege or
option the principal has, may have or claims to have;
(iii) Enforce the terms of an ownership agreement;
(iv) Initiate, participate in, submit to alternative
dispute resolution, settle, oppose or propose or accept a
compromise with respect to litigation to which the principal is
a party because of an ownership interest;
(v) Exercise in person or by proxy or enforce by
litigation or otherwise a right, power, privilege or option the
principal has or claims to have as the holder of stocks and
bonds;
(vi) Initiate, participate in, submit to alternative
dispute resolution, settle, oppose or propose or accept a
compromise with respect to litigation to which the principal is
a party concerning stocks and bonds;
(vii) With respect to an entity or business owned
solely by the principal:
(A) Continue, modify, renegotiate, extend and
terminate a contract made by or on behalf of the principal with
respect to the entity or business before execution of the power
of attorney;
(B) Determine the:
(I) Location of the entity's or business's
operation;
(II) Nature and extent of the entity's or
business's operation;
(III) Methods of manufacturing, selling,
merchandising, financing, accounting and advertising employed in
the entity's or business's operation;
(IV) Amount and types of insurance carried
by the entity or business;
(V) Mode of engaging, compensating and
dealing with the entity's or business's employees and
accountants, attorneys or other advisors.
(C) Change the name or form of organization
under which the entity or business is operated and enter into an
ownership agreement with other persons to take over all or part
of the operation of the entity or business;
(D) Demand and receive money due or claimed by
the principal or on the principal's behalf in the operation of
the entity or business and control and disburse the money in the
operation of the entity or business.
(viii) Put additional capital into an entity or
business in which the principal has an interest;
(ix) Join in a plan of reorganization, consolidation,
conversion, domestication or merger of the entity or business;
(x) Sell or liquidate all or part of an entity or
business;
(xi) Establish the value of an entity or business
under a buyout agreement to which the principal is a party;
(xii) Prepare, sign, file and deliver reports,
compilations of information, returns or other papers with
respect to an entity or business and make related payments;
(xiii) Pay, compromise or contest taxes, assessments,
fines or penalties and perform any other act to protect the
principal from illegal or unnecessary taxation, assessments,
fines or penalties, with respect to an entity or business,
including attempts to recover, in any manner permitted by law,
money paid before or after the execution of the power of
attorney.