North Carolina § 32C-2-206 - Stocks and bonds.

§ 32C-2-206. Stocks and bonds.

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to stocks and bonds authorizes the agent to do all of the following: Buy, sell, and exchange stocks and bonds. Establish, continue, modify, or terminate an account with respect to stocks and bonds. Pledge stocks and bonds as security for the principal or any entity in which the principal has an ownership interest to borrow money, or to pay, renew, or extend the time of payment of (i) a debt of the principal, (ii) a debt guaranteed by the principal, (iii) a debt of any entity in which the principal has an ownership interest, or (iv) a debt guaranteed by any entity in which the principal has an ownership interest. Receive certificates and other evidences of ownership with respect to stocks and bonds. Exercise voting rights with respect to stocks and bonds in person or by proxy, enter into voting trusts, and consent to limitations on the right to vote. History (2017-153, s. 1.) NORTH CAROLINA COMMENT This section is somewhat similar to the powers concerning stocks and bonds defined in former G.S. 32A-2(3) that could be incorporated in the Statutory Short Form Power of Attorney pursuant to former G.S. 32A-1 . Subdivision (3) modified Section 206 of the Uniform Power of Attorney Act by extending the power to pledge stocks and bonds as security "for the principal or any entity in which the principal has an ownership interest" and adds concerning payment of a debt the following: "(ii) a debt guaranteed by the principal, (iii) a debt of any entity in which the principal has an ownership interest, or (iv) a debt guaranteed by any entity in which the principal has an ownership interest". Editor's Note. - Session Laws 2017-153, s. 3, provides, in part: "The Revisor of Statutes shall cause to be printed, as annotations to the published General Statutes, all relevant portions of the Official Comments to the Uniform Power of Attorney Act (2006) and all explanatory comments of the drafters of this act as the Revisor may deem appropriate."