Fiduciary transactions
Sec. 10. (a) Language conferring general authority with respect to
fiduciary transactions means the principal authorizes the attorney in
fact to do the following if the principal has the authority to delegate:
(1) Apply for and procure, in the name of the principal, letters
of administration, letters testamentary, letters of guardianship,
or any other type of judicial or administrative authority to act as
a fiduciary.
(2) Represent and act for the principal in all ways and in all
matters affecting a fund with respect to which the principal is
a fiduciary.
(3) Initiate, participate in, and oppose a proceeding, judicial or
otherwise, for the removal, substitution, or surcharge of a
fiduciary, conserve, invest, or disburse anything received for the
purposes of the fund for which it is received, and reimburse the
attorney in fact for expenditures properly made by the attorney
in fact in the execution of powers conferred on the attorney in
fact.
(4) Agree and contract in any manner and on any terms with a
person the attorney in fact selects to accomplish a purpose
permitted under this section and perform, rescind, reform,
release, or modify an agreement or contract made by or on
behalf of the principal.
(5) Execute, acknowledge, verify, seal, file, and deliver a
consent, a designation, a pleading, a notice, a demand, an
election, a conveyance, a release, an assignment, a pledge, a
check, a waiver, an admission of service, a notice of
appearance, or other instrument the attorney in fact considers
useful to accomplish a purpose permitted under this section.
(6) Hire, discharge, and compensate an attorney, accountant,
expert witness, or other assistant when the attorney in fact
considers the action to be desirable for the proper execution by
the attorney in fact of a power described in this section and
keep needed records.
(7) Perform any other acts with respect to a fund of which the
principal is a fiduciary.
(b) The powers described in this section are exercisable equally
with respect to a fund of which the principal is a fiduciary at the time
of the giving of the power of attorney or becomes a fiduciary after
that time, whether located in Indiana or in another jurisdiction.
As added by P.L.149-1991, SEC.2.
Last modified: May 27, 2006