Illinois Limited (Special) Power of Attorney
The Illinois Limited (Special) Power of Attorney is a form that serves the purpose of establishing, in a legally-binding manner, an arrangement whereby a party known as the Principal wishes for a party known as the Agent to act on their behalf in the circumstances and manner they specify within. The Agent is required, as per 755 ILCS 45/2-7, to “act in good faith for the benefit of the principal using due care, competence, and diligence in accordance with the terms of the agency and shall be liable for negligent exercise” whenever they exercise their decision making powers.
State Laws & Signing Requirements
State Laws – Illinois Power of Attorney Act
Signing Requirements (ILCS 45/3-3) – The validity of a Illinois Limited (Special) Power of Attorney is in part determined by certain signing requirements being met. That is, the Principal’s signature must be acknowledged by a Notary Public and witnessed by one (1) or more witnesses.