Legislation
SECTION 5-1507
Signature of agent
General Obligations (GOB) CHAPTER 24-A, ARTICLE 5, TITLE 15
§ 5-1507. Signature of agent. 1. (a) In any transaction where the
agent is acting pursuant to a power of attorney and where the
hand-written signature of the agent or principal is required, the agent
shall disclose the principal and agent relationship by:
(1) signing "(name of agent) as agent for (name of principal)"; or
(2) signing "(name of principal) by (name of agent), as agent"; or
(3) any similar written disclosure of the principal and agent
relationship.
(b) A third party shall incur no liability for accepting a signature
that does not meet the requirements of this subdivision.
2. When the agent engages in a transaction on behalf of the principal,
the agent is attesting that:
(a) the agent has actual authority to engage in the transaction;
(b) the agent does not have, at the time of the transaction, actual
notice of the termination or revocation of the power of attorney, or
notice of any facts indicating that the power of attorney has been
terminated or revoked;
(c) if the power of attorney is one which terminates upon the
principal's incapacity, the agent does not have, at the time of the
transaction actual notice of the principal's incapacity, or notice of
any facts indicating the principal's incapacity.
(d) the agent does not have, at the time of the transaction, actual
notice that the power of attorney has been modified in any way that
would affect the ability of the agent to engage in the transaction, or
notice of any facts indicating that the power of attorney has been so
modified.
3. The attestation of the agent pursuant to subdivision two of this
section is not effective as to any third party who had actual notice
that the power of attorney had terminated or been revoked prior to the
transaction.
agent is acting pursuant to a power of attorney and where the
hand-written signature of the agent or principal is required, the agent
shall disclose the principal and agent relationship by:
(1) signing "(name of agent) as agent for (name of principal)"; or
(2) signing "(name of principal) by (name of agent), as agent"; or
(3) any similar written disclosure of the principal and agent
relationship.
(b) A third party shall incur no liability for accepting a signature
that does not meet the requirements of this subdivision.
2. When the agent engages in a transaction on behalf of the principal,
the agent is attesting that:
(a) the agent has actual authority to engage in the transaction;
(b) the agent does not have, at the time of the transaction, actual
notice of the termination or revocation of the power of attorney, or
notice of any facts indicating that the power of attorney has been
terminated or revoked;
(c) if the power of attorney is one which terminates upon the
principal's incapacity, the agent does not have, at the time of the
transaction actual notice of the principal's incapacity, or notice of
any facts indicating the principal's incapacity.
(d) the agent does not have, at the time of the transaction, actual
notice that the power of attorney has been modified in any way that
would affect the ability of the agent to engage in the transaction, or
notice of any facts indicating that the power of attorney has been so
modified.
3. The attestation of the agent pursuant to subdivision two of this
section is not effective as to any third party who had actual notice
that the power of attorney had terminated or been revoked prior to the
transaction.