Mississippi § 93-20-421 - Administrative powers of conservator not requiring court approval.

§ 93-20-421. Administrative powers of conservator not requiring court approval.

Except as otherwise provided in Section 93-20-414 or qualified or limited in the court’s order of appointment and stated in the letters of conservatorship, a conservator has all powers granted in this section and any additional power granted to a trustee by law of this state other than this chapter. The court may authorize the conservator in a court order to execute powers not listed in Section 93-20-414 without prior specific court authorization or confirmation, including by way of illustration, but not limited to, the following: To collect, hold, and retain property, including property in which the conservator has a personal interest and real property in another state, until the conservator determines disposition of the property should be made; To receive additions to the conservatorship estate; To continue or participate in the operation of a business or other enterprise; To acquire an undivided interest in property in which the conservator, in a fiduciary capacity, holds an undivided interest; To acquire or dispose of personal property; To continue to invest assets; To deposit funds or other property in a financial institution, including one operated by the conservator; To grant an option involving disposition of property or accept or exercise an option for the acquisition of property; To vote a security, in person or by general or limited proxy; To pay a call, assessment, or other sum chargeable or accruing against or on account of a security; To sell or exercise a stock subscription or conversion right; To consent, directly or through a committee or agent, to the reorganization, consolidation, merger, dissolution, or liquidation of a corporation or other business enterprise; To hold a security in the name of a nominee or in other form without disclosure of the conservatorship so that title to the security may pass by delivery; To insure: The conservatorship estate, in whole or in part, against damage or loss in accordance with Section 93-20-418(10); and The conservator against liability with respect to a third person; Advance funds for the protection of the conservatorship estate or the ward and all expenses, losses, and liability sustained in the administration of the conservatorship estate or because of holding any property for which the conservator has a lien on the conservatorship estate; Pay a tax, assessment, compensation of the conservator or any guardian, and other expense incurred in the collection, care, administration, and protection of the conservatorship estate; Pay a sum distributable to the ward or an individual who is in fact dependent on the ward by paying the sum to the distributee or for the use of the distributee: To the guardian for the distributee; To the custodian of the distributee under the Uniform Transfers to Minors Act, Section 91-20-1 et seq.; or If there is no guardian, custodian, or custodial trustee, to a relative or other person having physical custody of the distributee; Defend an action, claim, or proceeding in any jurisdiction for the protection of the conservatorship estate or the conservator in the performance of the conservator’s duties; Structure the finances of the ward to establish eligibility for a public benefit, including by making gifts consistent with the ward’s preferences, values, and prior directions, if the conservator’s action does not jeopardize the ward’s welfare and otherwise is consistent with the conservator’s duties; and Execute and deliver any instrument that will accomplish or facilitate the exercise of a power of the conservator.