Effective October 1, 2010, the Maryland Legislature enacted the Maryland General and Limited Power of Attorney Act (Act). The Act creates a statutory form power of attorney and provides that no one can require an additional or different form of power of attorney for any authority granted in the statutory form power of attorney (this includes anyone — banks, insurance companies, title companies, and anybody else dealing with a power of attorney). Failure to accept an appropriate acknowledged statutory form power of attorney may subject you to liability for attorneys’ fees and costs incurred in an action or proceeding to confirm the validity or mandate acceptance of the statutory form power of attorney. To avoid liability for noncompliance with the Act, be familiar with and able to recognize the new statutory form power of attorney and be sure to accept it.
For more information on the Act, see Maryland’s Statutory Power of Attorney – Learn It, Accept It, or Get Ready for Liability.