New Mexico § 45-5B-209 - Operation of entity or business

§ 45-5B-209. Operation of entity or business

Subject to the terms of a document or an agreement governing an entity or an entity

ownership interest, and unless the power of attorney otherwise provides, language

in a power of attorney granting general authority with respect to operation of an

entity or business authorizes the agent to: A. operate, buy, sell, enlarge, reduce or terminate an ownership interest; B. perform a duty or discharge a liability and exercise in person or by proxy a right,

power, privilege or option that the principal has, may have or claims to have; C. enforce the terms of an ownership agreement; D. initiate, participate in and submit to alternative dispute resolution; settle;

and oppose, propose or accept a compromise with respect to litigation to which the

principal is a party because of an ownership interest; E. exercise in person or by proxy, or enforce by litigation or otherwise, a right,

power, privilege or option the principal has or claims to have as the holder of stocks

and bonds; F. initiate, participate in, submit to alternative dispute resolution, settle, oppose

or propose or accept a compromise with respect to litigation to which the principal

is a party concerning stocks and bonds; G. with respect to an entity or business owned solely by the principal: (1) continue, modify, renegotiate, extend and terminate a contract made by or on behalf

of the principal with respect to the entity or business before execution of the power

of attorney; (2) determine: (a) the location of its operation; (b) the nature and extent of its business; (c) the methods of manufacturing, selling, merchandising, financing, accounting and

advertising employed in its operation; (d) the amount and types of insurance carried; and (e) the mode of engaging, compensating and dealing with its employees and accountants,

attorneys or other advisors; (3) change the name or form of organization under which the entity or business is

operated and enter into an ownership agreement with other persons to take over all

or part of the operation of the entity or business; and (4) demand and receive money due or claimed by the principal or on the principal's

behalf in the operation of the entity or business and control and disburse the money

in the operation of the entity or business; H. put additional capital into an entity or business in which the principal has an

interest; I. join in a plan of reorganization, consolidation, conversion, domestication or merger

of the entity or business; J. sell or liquidate all or part of an entity or business; K. establish the value of an entity or business under a buy-out agreement to which

the principal is a party; L. prepare, sign, file and deliver reports, compilations of information, returns or

other papers with respect to an entity or business and make related payments; and M. pay, compromise or contest taxes, assessments, fines or penalties and perform any

other act to protect the principal from illegal or unnecessary taxation, assessments,

fines or penalties, with respect to an entity or business, including attempts to recover,

in any manner permitted by law, money paid before or after the execution of the power

of attorney.