§ 18-16-11 - Records, reports and statements.
SECTION 18-16-11
§ 18-16-11 Records, reports andstatements. – (a) In a statutory short form power of attorney, the language conferringgeneral authority with respect to records, reports and statements shall beconstrued to mean that the principal authorizes the agent:
(1) To keep records of all cash received and disbursed for oron account of the principal, of all credits and debits to the account of theprincipal and of all transactions affecting in any way the assets andliabilities of the principal;
(2) To prepare, execute and file all tax, social security,unemployment insurance and information returns, required by the laws of theUnited States, of any state or of any subdivision of it, or of any foreigngovernment; to prepare, execute and file all other papers and instruments whichthe agent deems desirable or necessary for the safeguarding of the principalagainst excess or illegal taxation or against penalties imposed for claimedviolation of any law or other governmental regulation;
(3) To prepare, execute and file any record, report orstatement, which the agent deems desirable or necessary for the safeguarding ormaintenance of the principal's interest, with respect to price, rent, wage orrationing control, or other governmental activity;
(4) To hire, discharge and compensate any attorney,accountant, or other assistant or assistants when the agent deems this actionto be desirable for the proper execution by him or her of any of the powersdescribed in this section; and
(5) In general, and in addition to all the specific actsenumerated in this section, to do any other act or acts, which the principalcan do through an agent, in connection with the preparation, execution, filing,storage or other utilization of any records, reports or statements of orconcerning the principal's affairs.
(b) All powers described in this section shall be equallyexercisable with respect to any records, reports or statements of or concerningthe affairs of the principal existing at the giving of the power of attorney orthereafter arising, whether arising in the state of Rhode Island or elsewhere.