US Lawyer Database

Section 17-111 – When Power Becomes Effective

    (a)    A power of attorney is effective when executed, unless the principal provides in the power of attorney that it becomes effective at a future date or on the occurrence of a future event or contingency.     (b)    If a power of attorney becomes effective on the occurrence of a future event or contingency, the principal, in the […]

Section 17-112 – Termination

    (a)    A power of attorney terminates when:         (1)    The principal dies;         (2)    The principal becomes incapacitated, if the power of attorney is not durable;         (3)    The principal revokes the power of attorney;         (4)    The power of attorney provides that it terminates;         (5)    The purpose of the power of attorney is accomplished; or         (6)    The principal revokes the agent’s authority or the agent […]

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 17-201 – 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 17-202 – 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 […]