Texas Estates Code 752.104 – Stock and Bond Transactions
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Terms Used In Texas Estates Code 752.104
- Person: includes a natural person and a corporation. See Texas Estates Code 22.027
- 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
The language conferring authority with respect to stock and bond transactions in a statutory durable power of attorney empowers the attorney in fact or agent to:
(1) buy, sell, and exchange:
(A) stocks;
(B) bonds;
(C) mutual funds; and
(D) all other types of securities and financial instruments other than commodity futures contracts and call and put options on stocks and stock indexes;
(2) receive certificates and other evidences of ownership with respect to securities;
(3) exercise voting rights with respect to securities in person or by proxy;
(4) enter into voting trusts; and
(5) consent to limitations on the right to vote.