Texas Limited Power of Attorney for Stock Transactions and Corporate Powers
Overview of this form
The Limited Power of Attorney for Stock Transactions and Corporate Powers is a legal document that enables a shareholder to grant another individual the authority to manage stock transactions on their behalf. Unlike a general power of attorney, this form specifically limits the powers to voting stock and executing corporate actions, ensuring that the agent acts solely in matters related to the designated corporation.
What’s included in this form
- Identification of the principal (the person granting authority) and the attorney-in-fact (the person receiving authority).
- Specific powers granted regarding stock transactions, including voting rights and financial management.
- Statements regarding the durability of the power of attorney, indicating whether it remains effective if the principal becomes incapacitated.
- Signature requirements, including the need for two witnesses and potential notarization.
- Acknowledgment by witnesses affirming the principal's sound mind and absence of duress during signing.
When this form is needed
This form is useful when a shareholder wishes to delegate authority to another person to manage their stock interests temporarily. It may be necessary during times when the shareholder is unable to attend meetings or make decisions due to travel, illness, or other personal circumstances. Additionally, it can facilitate transactions that require immediate action, such as voting on stockholder matters or executing corporate powers.
Intended users of this form
- Any shareholder needing to delegate stock transaction authority for a specific corporate entity.
- Individuals who may temporarily be unable to manage their stock positions due to other commitments.
- Shareholders looking for a streamlined way to manage their corporate powers effectively.
How to complete this form
- Identify the principal and attorney-in-fact by providing their full names and addresses.
- Specify the name of the corporation and relevant stock details where powers will be exercised.
- Select whether the power of attorney will be durable or non-durable.
- Include the date and sign the document in the presence of two witnesses.
- If required, obtain notarization to ensure the validity of the document.
Does this form need to be notarized?
This form must be notarized to be legally valid. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to have the document signed in front of two witnesses.
- Not specifying the corporation's name or details required for the stock transactions.
- Selecting the wrong type of durability for the power of attorney.
Benefits of using this form online
- Convenience of immediate access and download at your convenience.
- Editability to customize the form according to your specific needs.
- Reliability knowing it is drafted by licensed attorneys with legal expertise.
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FAQ
General Power of Attorney. Durable Power of Attorney. Special or Limited Power of Attorney. Springing Durable Power of Attorney.
Non-Durable Power of Attorney. Durable Power of Attorney. Special or Limited Power of Attorney. Medical Power of Attorney. Springing Power of Attorney. Create Your Power of Attorney Now.
A Power of Attorney is a legal document which appoints a person (the Attorney-in-Fact, AIF) to act on your behalf. A durable Power of Attorney authorizes your AIF to act on your behalf even if you become incapacitated and unable to handle matters on your own.
Yes, in Texas and elsewhere, two or more co-agents can share power of attorney. This is sometimes called dual power of attorney. However, just because you can name co-agents in a power of attorney doesn't mean you should.
Limited Power of Attorney (LPOA) is an authorization that permits a portfolio manager to perform specific functions on behalf of the account owner. In general, the LPOA allows the manager to execute an agreed-upon investment strategy and take care of routine related business without contacting the account holder.
A Power of Attorney is a legal document that gives someone else the legal power to act on your behalf.A person does not have to be a lawyer to be appointed as an agent.
Limited Power of Attorney (LPOA) is an authorization that permits a portfolio manager to perform specific functions on behalf of the account owner. In general, the LPOA allows the manager to execute an agreed-upon investment strategy and take care of routine related business without contacting the account holder.
A limited power of attorney grants the representative that you choose (the agent or attorney-in-fact) the power to act on your behalf under limited circumstances.Under a general power of attorney, the agent or attorney-in-fact can do anything that you can do.
