<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 59-12-27 - Tangible personal property.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2078758Normal { text-indent: 0.50in; text-align: justify; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078758SENU { font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078758CL { font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078758DefaultParagraphFont { font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2078758StatuteNumber1 { margin-left: 0.75in; text-indent: -0.50in; text-align: justify; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2078758StatuteNumber2 { margin-left: 1.25in; text-indent: -0.50in; text-align: justify; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } a.s2078758000000 { text-decoration: none; } span.s2078758000001 { font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2078758NoIndent { text-indent: 0.00in; text-align: justify; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2078758DefaultParagraphFont-000002 { font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2078758SCL { font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2078758Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=59-12-27"><span class="s2078758SENU">59-12-27</span></a><span xml:space="preserve" class="s2078758SENU">. </span><span class="s2078758CL">Tangible personal property.</span></p><p dir="ltr" class="s2078758Normal"><span class="s2078758DefaultParagraphFont">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:</span></p><p dir="ltr" class="s2078758StatuteNumber1"><span class="s2078758DefaultParagraphFont">(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 tangible personal property or an interest in tangible personal property;</span></p><p dir="ltr" class="s2078758StatuteNumber1"><span class="s2078758DefaultParagraphFont">(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;</span></p><p dir="ltr" class="s2078758StatuteNumber1"><span class="s2078758DefaultParagraphFont">(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;</span></p><p dir="ltr" class="s2078758StatuteNumber1"><span class="s2078758DefaultParagraphFont">(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;</span></p><p dir="ltr" class="s2078758StatuteNumber1"><span class="s2078758DefaultParagraphFont">(5)    Manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including:</span></p><p dir="ltr" class="s2078758StatuteNumber2"><a id="_pagenumber18" class="s2078758000000"></a><span class="s2078758DefaultParagraphFont">(a)    Insuring against liability, casualty, or other loss;</span></p><p dir="ltr" class="s2078758StatuteNumber2"><span class="s2078758DefaultParagraphFont">(b)    Obtaining or regaining possession of or protecting the property or interest by litigation or otherwise;</span></p><p dir="ltr" class="s2078758StatuteNumber2"><span class="s2078758DefaultParagraphFont">(c)    Paying, assessing, compromising, or contesting taxes or assessments, or applying for and receiving refunds in connection with taxes or assessments;</span></p><p dir="ltr" class="s2078758StatuteNumber2"><span class="s2078758DefaultParagraphFont">(d)    Relocating the property;</span></p><p dir="ltr" class="s2078758StatuteNumber2"><span class="s2078758DefaultParagraphFont">(e)    Storing the property for hire or on a gratuitous bailment; and</span></p><p dir="ltr" class="s2078758StatuteNumber2"><span class="s2078758DefaultParagraphFont">(f)    Using and making repairs, alterations, or improvements to the property; and</span></p><p dir="ltr" class="s2078758StatuteNumber1"><span class="s2078758DefaultParagraphFont">(6)    Change the form of title of an interest in tangible personal property.</span></p><p dir="ltr" class="s2078758Normal"><span xml:space="preserve" class="s2078758000001"> </span></p><p dir="ltr" class="s2078758NoIndent"><span xml:space="preserve" class="s2078758DefaultParagraphFont-000002">Source: </span><span class="s2078758SCL">SL 2020, ch 214, § 27.</span></p></div></body></html>