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Power Of Attorney Signed With An X: Is it good?

Answered by: 
John Burnett

Question: 
We have been presented with a Power of Attorney at our bank that has been signed with an "X". Is this legal and acceptable? The customer has been in a serious automobile accident and has granted his sister POA on his account. The sister is also named as POD on the account. It is a limited (effective 5/1/02 until 7/1/02) power of attorney and we have no way of knowing if the customer was of sound mind when he made the "X". He is in critical condition and he may be under the influence of heavy pain medication. The sister stated she needs to pay his bills. Also, the POA is witnessed by two people, one of which is the notary. Is this permissible?
Answer: 

You'll have to look to state law to determine if the POA document is sufficient. In most states, the Notary Public is supposed to ensure that the principal has the capacity to grant a POA. It may only be that the principal was physically unable to use a "normal" signature, yet all the mental faculties were there. You can always contact the Notary to inquire.

First published on BankersOnline.com 7/15/02

First published on 07/15/2002

Filed under: 
Compliance
Filed under compliance as: 
IT
POD
Power of Attorney

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