1. (a) 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. (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 a tangible personal property or an interest in tangible personal property;
   2. (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. (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. (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. (5) Manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including:

      1. (A) Insuring against liability or casualty or other loss;
      2. (B) Obtaining or regaining possession of or protecting the property or interest, by litigation or otherwise;
      3. (C) Paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments;
      4. (D) Moving the property from place to place;
      5. (E) Storing the property for hire or on a gratuitous bailment; and
      6. (F) Using and making repairs, alterations, or improvements to the property; and
   6. (6) Change the form of title of an interest in tangible personal property.

History

Feb. 23, 2023, D.C. Law 24-236, § 2(d)