Pennsylvania Amends Provisions Concerning Powers of Attorney
Pennsylvania recently amended certain provisions regarding powers of attorney. These changes take effect immediately.
Some of the highlights to the amendment include the following:
“Nothing in this section shall prohibit an acknowledgment of a power of attorney before a member of the bar of the Pennsylvania Supreme Court in the manner authorized by 42 PA.C.S. § 327(A) (Relating to oaths and acknowledgments) certified in the manner provided by 57 PA.C.S. § 316(2.1) (relating to short form certificates) provided the attorney taking the acknowledgement does not act as one of the two witnesses required by this paragraph.”
The amendment incorporates a section related to governing documents of certain entities:
“(iv) [A power contained in the governing document for a corporation, partnership or limited liability company or other legal entity by which a director, partner or member authorizes others to do other things on behalf of the entity or a proxy or other delegation to exercise voting rights or management rights with respect to a legal entity.]
A power:
(A) contained in the governing document for a corporation, partnership or limited liability company or other legal entity;
(B) authorized by the law that governs the internal affairs of a legal entity;
(C) by which a director, shareholder, partner, member or manager authorizes others to do things on behalf of the entity; or
(D) contained in a proxy or other delegation to exercise voting rights or management rights with respect to legal entity.”
- a. A spouse’s power to claim an elective share,
- b. The durable power of attorney, and
- c. Short form certificates for notarial acts.
For a copy of the bill please see: http://www.legis.state.pa.us/cfdocs/billinfo/billinfo.cfm?sind=0&syear=2015&body=H&type=B&bn=665
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