Vermont Statutes Title 14 Sec. 4019
Terms Used In Vermont Statutes Title 14 Sec. 4019
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Agent: means a person granted authority to act for a principal under a power of attorney, whether denominated an agent, attorney-in-fact, or otherwise. See
- Domestic: when applied to a corporation, company, association, or copartnership shall mean organized under the laws of this State; "foreign" when so applied, shall mean organized under the laws of another state, government, or country. See
- Good faith: means honesty in fact. See
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; public corporation; government or governmental subdivision, agency, or instrumentality; or any other legal or commercial entity. See
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Power of attorney: means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used. See
- Principal: means an individual who grants authority to an agent in a power of attorney. See
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See
- Sign: means , with present intent to authenticate or adopt a record:
- State: means a state of the United States, the District of Columbia, Puerto Rico, the U. See
§ 4019. Acceptance of and reliance upon acknowledged power of attorney
(a) As used in this section and section 4020 of this title, “acknowledged” means purportedly verified before a notary public or other individual authorized to take acknowledgements.
(b) A person who in good faith accepts an acknowledged power of attorney without actual knowledge that the signature is not genuine may rely upon the presumption under section 4005 of this title that the signature is genuine.
(c) A person who effects a transaction in reliance upon an acknowledged power of attorney without actual knowledge that the power of attorney is void, invalid, or terminated; that the purported agent‘s authority is void, invalid, or terminated; or that the agent is exceeding or improperly exercising the agent’s authority may rely upon the power of attorney as if the power of attorney were genuine, valid, and still in effect; the agent’s authority were genuine, valid, and still in effect; and the agent had not exceeded and has properly exercised the authority.
(d) A person who is asked to accept an acknowledged power of attorney may request and rely upon, without further investigation:
(1) an agent’s certification under penalty of perjury of any factual matter concerning the principal, agent, or power of attorney; or
(2) an English translation of the power of attorney if the power of attorney contains, in whole or in part, language other than English; and
(3) an opinion of counsel as to any matter of law concerning the power of attorney if the person making the request provides in a writing or other record the reason for the request.
(e) A certification presented pursuant to subsection (d) of this section shall state that:
(1) the person presenting themselves as the agent and signing the affidavit or declaration is the person so named in the power of attorney;
(2) if the agent is named in the power of attorney as a successor agent, the circumstances or conditions stated in the power of attorney that would cause that person to become the acting agent have occurred;
(3) to the best of the agent’s knowledge, the principal is still alive;
(4) to the best of the agent’s knowledge, at the time the power of attorney was signed, the principal was competent to execute the document and was not under undue influence to sign the document;
(5) all events necessary to making the power of attorney effective have occurred;
(6) the agent does not have actual knowledge of the revocation, termination, limitation, or modification of the power of attorney or of the agent’s authority;
(7) if the agent was married to or in a state-registered domestic partnership with the principal at the time of execution of the power of attorney, then at the time of signing the affidavit or declaration, the marriage or state-registered domestic partnership of the principal and the agent has not been dissolved or declared invalid, and no action is pending for the dissolution of the marriage or domestic partnership for legal separation; and
(8) the agent is acting in good faith pursuant to the authority given under the power of attorney.
(f) An English translation or an opinion of counsel requested under this section must be provided at the principal’s expense unless the request is made more than seven business days after the power of attorney is presented for acceptance.
(g) For purposes of this section and section 4020 of this title, a person who conducts activities through employees is without actual knowledge of a fact relating to a power of attorney, a principal, or an agent if the employee conducting the transaction involving the power of attorney is without actual knowledge of the fact. (Added 2023, No. 60, § 1, eff. July 1, 2023.)