Common use of Designating a Power of Attorney Clause in Contracts

Designating a Power of Attorney. You may give another person (called an “attorney in fact”) authority to act on your behalf by giving that person a power of attorney. To add an attorney in fact to your Account, you must provide us with power of attorney documentation that meets our requirements. Subject to applicable law, we may refuse to accept a power of attorney that does not meet our requirements or was not issued within the past two (2) years and require that you provide an updated power of attorney. Subject to applicable law, we may, in our sole discretion, refuse to honor any power of attorney or refuse to permit your attorney in fact to access and otherwise transact through your Account. An attorney in fact may not open an Account on your behalf. Once we accept your power of attorney, we may allow your attorney in fact to access and otherwise transact through your Account unless or until we receive and have had a reasonable opportunity to act on written notice that you have died or that the power of attorney has been revoked. We have no duty to monitor or ensure that the acts of your attorney in fact are for your use or benefit or are otherwise permissible under applicable law. We will not be liable if your attorney in fact exceeds his or her powers or does not comply with your instructions or applicable law. You agree to hold us harmless from and against any actions we take based upon the instructions of your attorney in fact or that your attorney in fact takes regarding your Account, unless or until we receive and have had a reasonable opportunity to act on written notice that you have died or that the power of attorney has been revoked.