§ 491. Construction of Powers Generally
491. Construction of Powers Generally
The principal, by executing a statutory durable power of attorney that confers authority with respect to any class of transactions, empowers the attorney in fact or agent for that class of transactions to:
(1) demand, receive, and obtain by litigation, action, or otherwise any money or other thing of value to which the principal is, may become, or may claim to be entitled;
(2) conserve, invest, disburse, or use any money or other thing of value received on behalf of the principal for the purposes intended;
(3) contract in any manner with any person, on terms agreeable to the attorney in fact or agent, to accomplish a purpose of a transaction and perform, rescind, reform, release, or modify the contract or another contract made by or on behalf of the principal;
(4) execute, acknowledge, seal, and deliver a deed, revocation, mortgage, lease, notice, check, release, or other instrument the agent considers desirable to accomplish a purpose of a transaction;
(5) prosecute, defend, submit to arbitration, settle, and propose or accept a compromise with respect to a claim existing in favor of or against the principal or intervene in an action or litigation relating to the claim;
(6) seek on the principal's behalf the assistance of a court to carry out an act authorized by the power of attorney;
(7) engage, compensate, and discharge an attorney, accountant, expert witness, or other assistant;
(8) keep appropriate records of each transaction, including an accounting of receipts and disbursements;
(9) prepare, execute, and file a record, report, or other document the attorney in fact or agent considers necessary or desirable to safeguard or promote the principal's interest under a statute or governmental regulation;
(10) reimburse the attorney in fact or agent for expenditures made in exercising the powers granted by the durable power of attorney; and
(11) in general, do any other lawful act that the principal may do with respect to a transaction.