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Limited Power of Attorney for Stock Transactions and Corporate Powers - Michigan

Limited Power of Attorney for Stock Transactions and Corporate Powers - Michigan 2026

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The document is a Limited Power of Attorney for stock transactions, allowing the appointed attorney-in-fact to manage stock-related activities on behalf of the principal. It grants powers to exercise stock options, vote shares, execute contracts, and conduct various corporate actions without needing a proxy. The authority is defined as non-durable or durable, ensuring that actions taken by the attorney-in-fact are binding even after the principal's death or incapacity. Witnesses attest to the principal's sound mind and voluntary signing.

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Click ‘Get Form’ to open it in the editor.
Begin by filling in your name and address at the top of the form. Ensure accuracy as this identifies you as the principal.
Next, designate your attorney-in-fact by entering their name and address. This person will act on your behalf regarding stock transactions.
Specify the powers granted to your attorney-in-fact. Review each section carefully, ensuring that all necessary powers related to stock transactions are included.
Indicate whether this power of attorney is durable or non-durable by checking the appropriate box.
Sign and date the document at the bottom, ensuring that witnesses also sign and provide their information as required.

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Can a corporation use a power of attorney?

A Company Power of Attorney (PoA), also called a Corporate Power of Attorney, is a legal document that grants a business the ability to authorize an individual or entity to act on its behalf. This authority can cover signing contracts, managing finances, handling legal matters, and making key business decisions.

How long is a POA good for in Michigan?

In Michigan, the duration of a POA is usually determined by the terms outlined in the actual document. This means that the POA could be set to expire on a specific date, when a certain event occurs, or when the principal becomes incapacitated or passes away.

What is the new power of attorney law in Michigan?

Financial Powers of Attorney Are Now Automatically Durable A power of attorney signed on or after July 1, 2024 is durable unless the document specifically states otherwise. This means it remains valid even if the person who created it becomes unable to make decisions (MCL 556.204).

What is a POA not allowed to do?

The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.

Which is better, general power of attorney or special power of attorney?

Conclusion. A Special Power of Attorney (SPA) is required for specific, often major transactions (e.g., sale of real estate, making donations, compromising claims), while a General Power of Attorney (GPA) covers a broader range of administrative or routine acts.

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