Kentucky Statutes 457.300 – Commodities and options
Current as of: 2024 | Check for updates
|
Other versions
Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to commodities and options authorizes the agent to:
(1) Buy, sell, exchange, assign, settle, and exercise commodity futures contracts and call or put options on stocks or stock indexes traded on a regulated option exchange; and
(2) Establish, continue, modify, and terminate option accounts.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 49, effective July 15, 2020.
(1) Buy, sell, exchange, assign, settle, and exercise commodity futures contracts and call or put options on stocks or stock indexes traded on a regulated option exchange; and
Terms Used In Kentucky Statutes 457.300
- Agent: means a person granted authority to act for a principal under a power of attorney, whether denominated an agent, attorney-in-fact, or otherwise. See Kentucky Statutes 457.020
- Power of attorney: means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used. See Kentucky Statutes 457.020
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
(2) Establish, continue, modify, and terminate option accounts.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 49, effective July 15, 2020.