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Power of Attorney, Legal Forms - Agent's obligations to a Principal

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Power of Attorney<br>Related Legal Information  

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Agent's obligations to a Principal.


The Agent is obligated to act in the best interests of the Principal. An Agent is a fiduciary, with strict standards of honesty and loyalty to the Principal. An Agent must safeguard the Principal's Property, and keep it separate from the Agent's personal Property. Money should be kept in a separate bank account for the benefit of the Principal, and Agents must also keep accurate financial records of their activities, and provide complete and periodic accountings for all money and Property coming into their possession. Instruct your Agent to provide accurate records of all transactions completed for you, and to give you periodic accountings. You can also direct your Agent to provide an accounting to a third party - a member of your family or trusted friend--in the event you are unable to review the accounting yourself.
 
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Treasury Issues New Guidance on Registration-Required Obligations and Registered Form Rules

Lexology (registration)
Under current regulations an obligation is treated as in registered form if (i) the obligation is registered as to both principal and any stated interest with the issuer or its agent and any transfer of the obligation may be effected only by surrender ...
Treasury Issues New Guidance on Registration-Required Obligations and Registered Form Rules

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Econsultancy (blog)
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