Limited Power of Attorney for Stock Transactions and Corporate Powers - Maine 2025

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The document is a Limited Power of Attorney for stock transactions, allowing the Principal to grant an Agent authority to manage and make decisions regarding their property, specifically related to stock in a corporation. It outlines the responsibilities and powers of both the Principal and Agent, including the ability to sell or transfer stock, execute contracts, and act on behalf of the Principal even after incapacitation. The document emphasizes the importance of understanding its legal implications and encourages consultation with a lawyer if needed.
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Full POA allows the third party to buy and sell securities as well as request withdrawals. If the POA is non-durable, it ceases to exist if the account owner becomes incapacitated. Incapacitation includes medical comas or mental incompetency. Regardless of the reason, a non-durable POA will be revoked if this occurs.
A power of attorney (POA) is a binding legal document that gives a person (known as the agent or attorney-in-fact) the ability to act on the behalf of the principal or account owner.
In connection with the transfer of a certificate or instrument, a Stock Power or Allonge acts as a power of attorney, in each case appointing an agent to the transfer on the companys books or on behalf of the transferor or assignor. Each will also be signed by the transferor or assignor, often done under seal.
A Limited Power of Attorney (POA) provides the authority for the filer to sign documents as if he or she were the required authorized signer, be it officers for corporations, members or managers for LLCs or general partners for limited partnerships.
What is a financial power of attorney? A financial power of attorney is a legal document that authorizes an agent to act on your behalf in financial matters. Financial POAs function as proof that the designated agent has the power to manage the principals finances.

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People also ask

When choosing an attorney, think about: how well they look after their own affairs, for example their finances. how well you know them. if you trust them to make decisions in your best interests. how happy they will be to make decisions for you.
While Maine doesnt technically require you to get your POA notarized, notarization is very strongly recommended.

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