Partnership Account - POA Transactions
Answer by John Burnett, BOL Guru Guru Bio
Question: We have an account owned by a partnership. One of the partners has appointed a POA. Can this POA transact business for this account behalf of the partner?
Answer: If the power of attorney appointment was made by the partner personally (this is, for his personal purposes), it should not be accepted as authority for the attorney-in-fact to act for the partnership.
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