72-31-346. Estates, trusts, and other beneficial interests. (1) In this section, "estate, trust, or other beneficial interest" means a trust, probate estate, guardianship, conservatorship, escrow, or custodianship or a fund from which the principal is, may become, or claims to be entitled to a share or payment.

(2) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to an estate, trust, or other beneficial interest authorizes the agent to:

(a) accept, receive, receipt for, sell, assign, pledge, or exchange a share in or payment from the fund;

(b) demand or obtain money or another thing of value to which the principal is, may become, or claims to be entitled by reason of the fund, by litigation or otherwise;

(c) exercise for the benefit of the principal a presently exercisable general power of appointment held by the principal;

(d) initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to ascertain the meaning, validity, or effect of a deed, will, declaration of trust, or other instrument or transaction affecting the interest of the principal;

(e) initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to remove, substitute, or surcharge a fiduciary;

(f) conserve, invest, disburse, or use anything received for an authorized purpose; and

(g) transfer an interest of the principal in real property, stocks and bonds, accounts with financial institutions or securities intermediaries, insurance, annuities, and other property to the trustee of a revocable trust created by the principal as settlor.

History: En. Sec. 8, Ch. 580, L. 1991; amd. Sec. 123, Ch. 494, L. 1993; Sec. 72-31-208, MCA 1991; redes. 72-31-231 by Code Commissioner, 1993; amd. Sec. 37, Ch. 109, L. 2011; Sec. 72-31-231, MCA 2009; redes. 72-31-346 by Code Commissioner, 2011.