Construction of power relating to tangible personal property transactions

In a statutory power of attorney the language granting power with respect to tangible personal property transactions empowers the agent to: (1) Accept as a gift or as security for a loan, reject, demand, buy, receive, or otherwise acquire ownership or possession of tangible personal property or an interest in tangible personal property; (2) Sell, exchange, convey with or without covenants, release, surrender, mortgage, encumber, pledge, hypothecate, create a security interest in, pawn, grant options concerning, lease, sublease to others, or otherwise dispose of tangible personal property or an interest in tangible personal property; (3) Release, assign, satisfy, or enforce by litigation or otherwise, a mortgage, security interest, encumbrance, lien, or other claim on behalf of the principal with respect to tangible personal property or an interest in tangible personal property; and (4) Do an act of management or conservation with respect to tangible personal property or an interest in tangible personal property on behalf of the principal, including: (A) Insuring against casualty, liability, or loss; (B) Obtaining or regaining possession, or protecting the property or interest, by litigation or otherwise; (C) Paying, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments; (D) Moving from place to place; (E) Storing for hire or on a gratuitous bailment; and (F) Using, altering, and making repairs or alterations.