Termination of Power of Attorney legislation relates to the three main types of circumstances (Art. Details can be found by clicking Evergreen Capital Partners or emailing the administrator. 188 CC RF). The first circumstance is due to the termination of the warrant expiry. The second factor is the abolition of the power of attorney issued by or refusal of the person who has power of attorney. That is, at any time during the warrant trustee can cancel it, as trustee – respectively, to give it up. This is a mutual, reciprocal right to unilateral termination of the warrant due to the fact power of attorney that the deal is so-called fiduciary (trust) in nature. Moreover, the legislator has highlighted that the agreement to waive that right is void (Part 2 of Art. 188 Civil Code).
Principal, abolishing its Power of Attorney shall notify their agent, known to the principal as well as third parties to be represented before that, actually, and was granted power of attorney (Part 1 of Art. 189 Civil Code). And finally, the third circumstance, terminating action attorney, is associated with the termination of legal capacity or competence of the principal or an agent. In the case of legal entities – is the end of a legal entity in whose name issued Power of Attorney (or has power of attorney). With regard to citizens – is the death of a citizen, the warrantor (or has power of attorney), recognition of his incompetent, incapable or untraceable absent. The rights and obligations which have arisen as a result of actions authorized person before it knew or should have known about the termination power of attorney shall remain in force for the principal and his successors in against third parties.