Power of Attorney Form for Wells Fargo

INSTITUTIONAL LIMITED POWER OF ATTORNEY

FINANCIAL INSTITUTION ACCOUNT MANAGEMENT AND OPERATIONAL AUTHORITY

Document ID: LPOA-WF-202X-V1.0
Effective Date: [Effective Date]
Version: 1.0
Governing Jurisdiction: State of [State of Jurisdiction] / Federal Banking Regulations

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SECTION 1: STATUTORY & LEGAL COMPLIANCE NOTICE

CRITICAL LEGAL NOTICE: This Limited Power of Attorney is an institutional-grade legal instrument specifically drafted for the delegation of banking, financial, and administrative authorities concerning accounts held with Wells Fargo Bank, N.A. and its affiliates and subsidiaries (collectively, "Wells Fargo").

Financial institutions maintain rigorous, specific internal compliance requirements, identity verification standards, and proprietary power of attorney documentation protocols. Execution of this instrument does not guarantee acceptance by Wells Fargo unless and until this document has been formally reviewed, approved, and processed by Wells Fargo’s designated legal and operational risk departments.

The Principal and the Attorney-in-Fact acknowledge that Wells Fargo may require its own institutional power of attorney forms, signature verification cards, and supporting resolutions. This instrument serves as the overarching legal authorization between the Principal and the Attorney-in-Fact and may be submitted to Wells Fargo in support of operational instructions. Legal counsel should be consulted in the relevant jurisdiction prior to execution to ensure compliance with local statutory requirements governing durable and non-durable powers of attorney.

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SECTION 2: PARTIES & RECITALS

2.1 Identification of Parties

• Principal: [Client Full Legal Name], residing at / with a principal place of business at [Principal Address] (hereinafter referred to as the "Principal").
• Attorney-in-Fact (Agent): [Agent Full Legal Name], residing at / with a principal place of business at [Agent Address] (hereinafter referred to as the "Attorney-in-Fact").
• Financial Institution: Wells Fargo Bank, N.A., including any of its successors, assigns, branches, and affiliates (hereinafter referred to as the "Bank").

2.2 Recitals

• WHEREAS, the Principal maintains, or intends to open and maintain, certain checking, savings, investment, commercial, loan, or trust accounts with the Bank (collectively, the "Accounts");
• WHEREAS, the Principal desires to appoint the Attorney-in-Fact as the Principal’s true and lawful attorney-in-fact to act in the Principal’s name, place, and stead for the specific banking and financial management purposes set forth herein; and
• WHEREAS, the Attorney-in-Fact has agreed to accept such appointment and to faithfully execute the powers and duties granted under this instrument in accordance with fiduciary standards and the rules and regulations of the Bank.

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Principal and Attorney-in-Fact formally agree as follows:

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SECTION 3: GRANT OF LIMITED AUTHORITY & SCOPE OF POWERS

3.1 Scope of Authority

The Principal hereby grants to the Attorney-in-Fact the power and authority to act on behalf of the Principal with respect to all Accounts held at the Bank, subject strictly to the limitations expressly outlined herein. This power is limited strictly to banking and financial operations associated with the Accounts and does not confer general power over the Principal's entire estate or non-banking business affairs.

3.2 Specific Powers Granted

The Attorney-in-Fact is authorized to perform the following acts with respect to the Accounts:

1. Deposit and Collection: To endorse, deposit, negotiate, and deliver checks, drafts, notes, warrants, certificates of deposit, electronic funds transfers, and other instruments payable to or belonging to the Principal into the Accounts.
2. Withdrawal and Disbursement: To withdraw, transfer, wire, or disburse funds from the Accounts by check, draft, electronic transfer, automated clearing house (ACH) transaction, or other payment mechanisms for the lawful business or personal use and benefit of the Principal.
3. Account Management: To access online banking portals, mobile applications, telephone banking services, and physical branch locations; to request and receive statements, check images, notices, and transactional histories; and to communicate with Bank personnel regarding account status, balances, and operational inquiries.
4. Check Signing Authority: To draw, sign, and deliver checks and payment orders drawn against the Accounts.
5. Dispute and Inquiry Resolution: To execute dispute forms, inquiry documents, and operational affidavits required by the Bank in connection with unauthorized transactions, billing errors, or account adjustments.

3.3 Express Exclusions and Prohibitions

Unless explicitly authorized in a separate, specific rider attached hereto, the Attorney-in-Fact shall NOT have the power to:

1. Open new lines of credit, apply for commercial or personal loans, or execute promissory notes obligating the Principal to the Bank.
2. Pledge, hypothecate, or encumber the Accounts as collateral for debts incurred by the Attorney-in-Fact or third parties.
3. Modify ownership designations, add or remove secondary account holders, or alter beneficiary designations (including Payable-on-Death or Transfer-on-Death designations) associated with the Accounts.
4. Close existing Accounts, unless such closure is executed in direct furtherance of transferring funds to another account held in the exact same legal name of the Principal.

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SECTION 4: FIDUCIARY DUTIES & STANDARD OF CARE

4.1 Fiduciary Obligations

The Attorney-in-Fact acknowledges that the powers granted herein are held in a strict fiduciary capacity. The Attorney-in-Fact shall act solely in the best interests of the Principal, exercise utmost good faith, and avoid any self-dealing, conflicts of interest, or commingling of the Principal's funds with the personal funds of the Attorney-in-Fact.

4.2 Accounting and Recordkeeping

The Attorney-in-Fact shall maintain accurate, contemporaneous, and complete records of all transactions, deposits, withdrawals, and operational activities conducted on behalf of the Principal with respect to the Accounts. The Attorney-in-Fact shall provide such accounting records to the Principal upon written request within ten (10) business days.

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SECTION 5: BANK PROTECTION, RELIANCE, & INDEMNIFICATION

5.1 Bank Reliance

The Bank is expressly authorized to rely upon this instrument until such time as the Bank has received actual, written notice of revocation, termination, or modification at the specific branch or operational department where the Accounts are maintained. The Bank shall be fully protected in acting upon any instruction, check, transfer, or communication executed by the Attorney-in-Fact pursuant to this Power of Attorney.

5.2 Release and Discharge of Bank

The Bank assumes no duty to inquire into the application, use, or disposition of any funds withdrawn, transferred, or disbursed by the Attorney-in-Fact from the Accounts. The Principal hereby releases and discharges the Bank from any and all liability, claims, demands, or causes of action arising out of or related to the Bank's good-faith reliance upon this Power of Attorney or the actions of the Attorney-in-Fact.

5.3 Indemnification of Bank and Principal

• Indemnification of the Bank: The Principal and Attorney-in-Fact, jointly and severally, agree to indemnify, defend, and hold harmless the Bank, its officers, directors, employees, and agents from and against any and all losses, liabilities, claims, damages, costs, and expenses (including reasonable attorneys' fees) arising out of or resulting from the Bank's reliance upon this Power of Attorney or the acts or omissions of the Attorney-in-Fact.
• Indemnification of the Principal: The Attorney-in-Fact agrees to indemnify, defend, and hold harmless the Principal from and against any and all losses, damages, liabilities, or expenses resulting from any breach of fiduciary duty, unauthorized transaction, or willful misconduct by the Attorney-in-Fact.

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SECTION 6: TERM, MODIFICATION, & TERMINATION

6.1 Effective Date and Duration

This Power of Attorney shall become effective on [Effective Date] and shall remain in full force and effect until revoked, terminated, or expired in accordance with this Section 6.

6.2 Revocation by Principal

The Principal reserves the right to revoke, suspend, or modify this Power of Attorney at any time, with or without cause, by delivering written notice of revocation to the Attorney-in-Fact and to the Bank via certified mail, return receipt requested, or via hand delivery with written acknowledgment of receipt by the Bank.

6.3 Automatic Termination

This Power of Attorney shall automatically terminate upon:

1. The death, legal adjudication of incompetence, or incapacitation of the Principal (unless this instrument has been explicitly drafted and registered as a Durable Power of Attorney under applicable state statute and accepted as such by the Bank);
2. The death, resignation, removal, or legal incapacitation of the Attorney-in-Fact; or
3. The dissolution, bankruptcy, or receivership of the Principal or Attorney-in-Fact, if an entity.

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SECTION 7: GOVERNING LAW & JURISDICTION

7.1 Governing Law

This Power of Attorney, and all rights and obligations arising hereunder, shall be construed, interpreted, and governed by the laws of the State of [State of Jurisdiction], without regard to its conflict of laws principles, and applicable federal banking laws and regulations.

7.2 Dispute Resolution

Any legal action, suit, or proceeding arising out of or relating to this Power of Attorney shall be instituted exclusively in the state or federal courts located within [County, State], and the parties hereby consent to the personal jurisdiction of such courts and waive any objection based on forum non conveniens.

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SECTION 8: MISCELLANEOUS PROVISIONS

8.1 Severability

If any provision of this Power of Attorney is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be modified to the minimum extent necessary to make it valid and enforceable, and the remaining provisions shall remain in full force and effect.

8.2 Entire Agreement

This instrument constitutes the entire agreement between the Principal and the Attorney-in-Fact regarding the subject matter hereof and supersedes all prior oral or written understandings, representations, or agreements.

8.3 Counterparts

This Power of Attorney may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Electronic signatures and digital transmissions (including PDF) shall have the same legal force and effect as original wet-ink signatures.

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SECTION 9: EXECUTION & FORMAL SIGNATURE BLOCKS

IN WITNESS WHEREOF, the Principal and Attorney-in-Fact have executed this Limited Power of Attorney as of the Effective Date written above.

FOR THE PRINCIPAL: Signature: _____________________________________
Printed Name: [Client Full Legal Name]
Title: Principal / Account Holder
Date: [Date]

FOR THE ATTORNEY-IN-FACT: Signature: _____________________________________
Printed Name: [Agent Full Legal Name]
Title: Attorney-in-Fact / Agent
Date: [Date]

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NOTARY ACKNOWLEDGMENT (MANDATORY FOR FINANCIAL INSTITUTION ACCEPTANCE)

State of [State]
County of [County]

On this _____ day of _______________, 202, before me, the undersigned notary public, personally appeared [Client Full Legal Name] (Principal) and [Agent Full Legal Name] (Attorney-in-Fact), known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein contained.

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Notary Public
My Commission Expires: _______________

[SEAL]

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SECTION 10: STEP-BY-STEP EXECUTION & FILING GUIDE

1. Document Customization:

   • Open this document in Microsoft Word or Google Docs.
   • Locate all bracketed placeholders (e.g., [Client Full Legal Name], [Principal Address], [Effective Date]) and replace them with precise, verified legal names and data matching government-issued identification and Bank records.

2. Signatory Verification:

   • Ensure the Principal and Attorney-in-Fact possess the legal capacity to enter into binding agreements and that the Principal is the authorized signer on the designated Wells Fargo accounts.

3. Execution via Wet-Ink or Digital Signature:

   • While digital signature platforms (e.g., DocuSign, Adobe Sign) are acceptable for general execution, Wells Fargo frequently requires notarization for powers of attorney affecting bank accounts.
   • It is strongly recommended that the Principal and Attorney-in-Fact execute this document in the physical presence of a licensed Notary Public.

4. Filing and Submission to Wells Fargo:

   • Deliver the fully executed, notarized original document to the local Wells Fargo branch where the primary Account is maintained, or submit it through Wells Fargo's designated commercial/retail legal processing department.
   • Request formal written confirmation of receipt and processing from Wells Fargo operational risk or legal compliance personnel.

5. Record Retention:

   • Retain a fully executed, timestamped copy of this instrument in the permanent legal and financial files of both the Principal and the Attorney-in-Fact for a minimum of seven (7) years following termination.