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.
Limited Power Of Attorney For Stock Transactions With A Company
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How to fill out Alabama Limited Power Of Attorney For Stock Transactions And Corporate Powers?
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FAQ
By giving PoA to the broker, you are allowing him to withdraw the shares from your demat account on your behalf. Power of Attorney is not mandatory. It is your choice to give it or not. No broker can force you to give PoA.
A corporate power of attorney is normally given by the directors or the shareholders of a company to appoint another person to carry out responsibilities on their behalf. The power of attorney can be specific to certain matters, or general (giving your attorney power to act on your general instructions).
A person who holds a power of attorney covering financial affairs and property is allowed to deal with financial services companies. These include your bank and your pension and investment provider (such as Prudential).
A POA is a legal document you sign to grant someone you trust with authority to make decisions on your behalf. Based on the authority you grant, this attorney-in-fact, or agent, has the legal right to make the decisions you would make if you were able.
Under a limited power of attorney agreement, the agent can only act and make decisions on specified activities, and only to the extent that the principal authorizes. A principal does not need to choose a lawyer to be their agent; attorney in fact differs from an attorney at law.