Original Artical "Power of attorney" https://en.wikipedia.org/wiki/Power_of_attorney
Power of attorney
From Wikipedia, the free encyclopedia
A power of attorney (POA) or letter of attorney is a {written authorization} to represent or act on another's behalf in {private affairs}, {business}, {or some other legal matter}. {The person {authorizing} the other to act is the principal, grantor, or donor} (of the power). {The one {authorized} to act is the agent or attorney or, in some common law jurisdictions, the attorney-in-fact}. Formerly, a power referred to an instrument under seal while a letter was an instrument under hand, but today both are signed by the donor, and therefore there is no difference between the two.
Attorney-in-fact
The term attorney-in-fact is used in several states of the United States in place of the term agent and should be distinguished from the term attorney-at-law. An attorney-at-law in the United States is a lawyer — someone licensed to practice law in a particular jurisdiction. The Uniform Power of Attorney Act employs the term agent.
As an agent, an attorney-in-fact is a fiduciary for the principal, so the law requires an attorney-in-fact to be completely honest with and loyal to the principal in their dealings with each other. If the attorney-in-fact is being paid to act for the principal, the contract is usually separate from the {power of attorney} itself, so if that contract is in writing, it is a separate document, kept private between them, whereas the power of attorney is intended to be shown to various other people.
In the context of the unincorporated reciprocal inter-insurance exchange (URIE) the attorney-in-fact is a stakeholder/trustee who takes custody of the subscriber funds placed on deposit with him, and then uses those funds to pay insurance claims. When all the claims are paid, the attorney-in-fact then returns the leftover funds to the subscribers.
