Louisiana Revised Statutes 9:3872 – Stock and bond transactions; powers granted
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Terms Used In Louisiana Revised Statutes 9:3872
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- 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
In a military power of attorney, the language granting power with respect to stock and bond transactions empowers the agent to do all of the following:
(1) Buy, sell, and exchange stocks, bonds, mutual funds, and all other types of securities and financial instruments except commodity futures contracts and call and put options on stocks and stock indexes.
(2) Receive certificates and other evidence of ownership with respect to securities.
(3) Exercise voting rights with respect to securities in person or by proxy, enter into voting trusts, and consent to limitations on the right to vote.
Acts 1991 1st E.S., No. 5, §1, eff. April 17, 1991; Acts 1995, No. 1131, §1.