Texas Estates Code

§ 752.107 — BUSINESS OPERATION TRANSACTIONS

ES § 752.107Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part P. DURABLE POWERS OF ATTORNEY · Ch. 752. STATUTORY DURABLE POWER OF ATTORNEY · Art. C. CONSTRUCTION OF POWERS RELATED TO STATUTORY DURABLE POWER OF ATTORNEY

Statute text

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Subject to the terms of an agreement or other document governing or relating to an entity or entity ownership interest, to the extent the agent is permitted by law to act for the principal and unless the power of attorney provides otherwise, the language conferring authority with respect to business operating transactions in a statutory durable power of attorney empowers the agent to:

(1)operate, buy, sell, enlarge, reduce, or terminate an ownership interest;

(2)perform a duty or discharge a liability, or exercise in person or by proxy a right, power, privilege, or option that the principal has, may have, or claims to have;

(3)enforce the terms of an agreement or other document governing or relating to an entity or entity ownership interest;

(4)defend, submit to arbitration, settle, or compromise litigation or an action to which the principal is a party because of an entity ownership interest;

(5)exercise in person or by proxy, or enforce by litigation, action, or otherwise, a right, power, privilege, or option the principal has or claims to have as the holder of a certificated or uncertificated ownership interest;

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Legislative history

Acts 2023, 88th Leg., R.S., Ch. 210 (S.B. 1650), Sec. 6, eff. September 1, 2023.