Section 17-204 – Statutory Form — Agent’s Certification of Validity and Authority
The following optional form may be used by an agent to certify facts concerning a power of attorney: “AGENT’S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY AND AGENT’S AUTHORITY State of Maryland (County) of___________________________ I, __________________________________ (Name of Agent), certify under penalty of perjury that _________________________________ (Name of Principal) granted me authority as […]
Section 17-113 – Duties of Agent
(a) Notwithstanding provisions in the power of attorney, an agent that has accepted appointment shall: (1) Act in accordance with the principal’s reasonable expectations to the extent actually known by the agent and, otherwise, act in the principal’s best interest; (2) Act with care, competence, and diligence for the best interest of the principal; and (3) Act only within […]
Section 17-114 – Reimbursement for Expenses; Compensation
(a) Unless the power of attorney otherwise provides, an agent is entitled to reimbursement of expenses reasonably incurred on behalf of the principal but the agent is not entitled to compensation. (b) If the principal indicates in the power of attorney that the agent is entitled to compensation, the agent may receive compensation based on what is […]
Section 17-115 – Construction With Other Laws
This title does not supersede other laws applicable to financial institutions or other entities, and to the extent those other laws are inconsistent with the title, the other laws prevail.
Section 17-116 – Short Title
This title may be cited as the Maryland General and Limited Power of Attorney Act.
Section 16-112 – Application of Act
This title applies to registrations of securities in beneficiary form made before or after October 1, 1994, by decedents dying on or after October 1, 1994.
Section 17-201 – Statutory Form
(a) A document substantially in one of the forms set forth in this subtitle may be used to create a statutory form power of attorney that has the meaning and effect prescribed by this title. (b) A document substantially in one of the forms set forth in this subtitle in effect on the date the document is […]
Section 17-102 – Agent Not Required to Make Disclosures Except on Request of Court or Certain Parties
(a) Except as otherwise provided in a power of attorney, an agent is not required to disclose receipts, disbursements, or transactions conducted on behalf of the principal unless ordered by a court or requested by the principal, a guardian, a conservator, another fiduciary acting for the principal, a governmental agency having authority to protect the welfare […]
Section 17-202 – Statutory Form — Personal Financial Power of Attorney
“MARYLAND STATUTORY FORM PERSONAL FINANCIAL POWER OF ATTORNEY IMPORTANT INFORMATION AND WARNING You should be very careful in deciding whether or not to sign this document. The powers granted by you (the principal) in this document are broad and sweeping. This power of attorney authorizes another person (your agent) to make decisions concerning your property […]
Section 17-103 – Petition for Construction of Power of Attorney
(a) The following persons may petition a court to construe a power of attorney or review the agent’s conduct, and grant appropriate relief: (1) The principal or the agent; (2) A guardian, conservator, or other fiduciary acting for the principal; (3) A person authorized to make health care decisions for the principal; (4) The principal’s spouse, parent, or descendant; (5) An […]