Sec. 1-45. Chattel and goods transactions.
Sec. 1-45. Chattel and goods transactions. In a statutory short form power of
attorney, the language conferring general authority with respect to chattel and goods
transactions shall be construed to mean that the principal authorizes the agent: (1) To
accept as a gift, or as security for a loan, to reject, to demand, to buy, to receive, or
otherwise to acquire either ownership or possession of, any chattel or goods or any
interest in any chattel or goods; (2) to sell, to exchange, to convey either with or without
covenants, to release, to surrender, to mortgage, to encumber, to pledge, to hypothecate,
to pawn, to revoke, create or modify a trust, to grant options concerning, to lease or to
sublet to others, or otherwise to dispose of any chattel or goods or any interest in any
chattel or goods; (3) to release in whole or in part, to assign the whole or a part of, to satisfy
in whole or in part, and to enforce by action, proceeding or otherwise, any mortgage,
encumbrance, lien or other claim, which exists, or is claimed to exist, in favor of the
principal, with respect to any chattel or goods or any interest in any chattel or goods;
(4) to do any act of management or of conservation, with respect to any chattel or goods
or to any interest in any chattel or goods owned, or claimed to be owned, by the principal,
including, but not limited to, power to insure against any casualty, liability or loss, to
obtain or to regain possession, or to protect such chattel or goods or interest in any
chattel or goods, by action, proceeding or otherwise, to pay, to compromise or to contest
taxes or assessments, to apply for refunds in connection therewith, to move from place
to place, to store for hire or on a gratuitous bailment, to use, to alter and to make repairs
or alterations of any such chattel or goods, or interest in any chattel or goods; (5) to
demand, to receive, to obtain by action, proceeding or otherwise, any money or other
thing of value to which the principal is, or may become, or may claim to be, entitled as
the proceeds of a chattel or goods or of any interest in any chattel or goods, or of one
or more of the transactions enumerated in this section, to conserve, to invest, to disburse
or to utilize anything so received for purposes enumerated in this section, and to be
reimbursed for any expenditures properly made by him in the execution of the powers
conferred on him by the statutory short form power of attorney; (6) to agree and to
contract, in any manner, and with any person and on any terms, which the agent may
select, for the accomplishment of any of the purposes enumerated in this section, and
to perform, to rescind, to reform, to release or to modify any such agreement or contract
or any other similar agreement or contract made by or on behalf of the principal; (7) to
execute, to acknowledge, to seal and to deliver any conveyance, revocation, declaration
or modification of trust, mortgage, lease, notice, check or other instrument which the
agent may think useful for the accomplishment of any of the purposes enumerated in
this section; (8) to prosecute, to defend, to submit to arbitration, to settle, and to propose
or to accept a compromise with respect to, any claim existing in favor of, or against,
the principal based on or involving any chattel or goods transaction or to intervene in
any action or proceeding relating thereto; (9) to hire, to discharge and to compensate
any attorney, accountant, expert witness or other assistant or assistants when the agent
deems such action to be desirable for the proper execution by him of any of the powers
described in this section, and for the keeping of needed records thereof; and (10) in
general, and in addition to all the specific acts in this section enumerated, to do any
other act or acts, which the principal can do through an agent, with respect to any chattel
or goods or interest in any chattel or goods. All powers described in this section shall
be exercisable equally with respect to any chattel or goods or interest in any chattel or
goods owned by the principal at the giving of the power of attorney or thereafter acquired,
and whether located in the state of Connecticut or elsewhere.
(February, 1965, P.A. 573, S. 4.)