Power Attorney Powers With Two Agents

State:
South Carolina
Control #:
SC-P099E
Format:
Word; 
Rich Text
Instant download

Description

This Limited Power of Attorney form provides for a limited power of attorney for stock transactions only. It used by a shareholder to authorize another person to vote stock and to conduct other corporate powers. The document must be signed before two witnesses.
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FAQ

A power of attorney can name one agent or it can require two or more agents to act together. If you are acting as a co-agent under a power of attorney, but you and your fellow agent disagree on a course of action or one party has stopped participating in decision making, what can you do?

If power of attorney co-agents disagree on a financial decision and the principal is mentally competent and not physically incapacitated, then the principal's decision supersedes the representatives. The principal also has the authority to revoke an agent's authority.

Co-agents have equal decision-making abilities and if they are granted joint powers then they cannot act independently and must make all decisions together. This can create serious issues if they do not get along and have trouble reaching consistent agreements.

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More info

Can Power of Attorney Keep Family Away? Yes — at least in certain circumstances.Yes. You can have co-agents in which more than one person serves together to action in your place. A power of attorney is a document that allows you to give someone the authority to manage your financial affairs. This person is called your agent. Required to Act Jointly.

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Power Attorney Powers With Two Agents