We introduce a family of Maxwellian Demons for which correlations among information
bearing degrees of freedom can be calculated exactly and in compact analytical form. This
allows one to precisely determine Demon functional thermodynamic operating regimes, when
previous methods either misclassify or simply fail due to approximations they invoke. This
reveals that these Demons are more functional than previous candidates. They too behave
either as engines, lifting a mass against gravity by extracting energy from a single heat
reservoir, or as Landauer erasers, consuming external work to remove information from a
sequence of binary symbols by decreasing their individual uncertainty. Going beyond these,
our Demon exhibits a new functionality that erases bits not by simply decreasing
individual-symbol uncertainty, but by increasing inter-bit correlations (that is, by adding
temporal order) while increasing single-symbol uncertainty. In all cases, but especially in
the new erasure regime, exactly accounting for informational correlations leads to tight
bounds on Demon performance, expressed as a refined Second Law of Thermodynamics that
relies on the Kolmogorov-Sinai entropy for dynamical processes and not on changes purely in
system configurational entropy, as previously employed. We rigorously derive the refined
Second Law under minimal assumptions and so it applies quite broadly---for Demons with and
without memory and input sequences that are correlated or not. We note that general
Maxwellian Demons readily violate previously proposed, alternative such bounds, while the
current bound still holds.