![]() (c)A principal may designate an Alternate Attorney-in-Fact in the Power of Attorney Document. If more than one individual is appointed Attorney-in-Fact, the document shall stipulate whether the individuals may act separately, or whether and how they must act collectively. (b)A principal may designate more than one Attorney-in-Fact in the Power of Attorney Document. The Power of Attorney Document shall contain express language: (A)Granting the principal’s power of attorney with respect to the principal’s financial matters generally to a named individual(s) or agent(s) or (B)Granting the principal’s power of attorney with respect to the principal’s Deferred Compensation account to a named individual(s) or agents(s). No person may act as an Attorney-in-Fact, or an agent by a power of attorney, for a participant, alternate payee, or beneficiary with respect to Deferred Compensation Program matters unless the Power of Attorney Document appointing such person(s) or agent(s) meets the following requirements: (a)The Power of Attorney Document shall be in written form in a format approved by the Deferred Compensation Program. For purposes of the Deferred Compensation Program a principal may be: (A)A Deferred Compensation Plan participant (B)The beneficiary of a deceased Deferred Compensation Plan participant or (C)The alternate payee under a domestic relations order that satisfies the requirements of ORS 243.507 (Payment of deferred compensation to alternate payee under judgment or order) and OAR 45 (Court Orders) to 45 (Fee for Administration of a Court Order). (f)“Principal” means the person who expressly grants, in writing, certain powers of attorney to another individual. (e)“Agent” means a person or entity entrusted with another’s business and acting under a power of attorney. ![]() (d)“Substitute Attorney-in-Fact” means a named individual appointed by an Attorney-in-Fact under authority contained in the Power of Attorney Document to serve in place of the Attorney-in-Fact. (c)“Alternate Attorney-in-Fact” means a named individual appointed to serve as an Attorney-in-Fact, under certain terms and conditions set forth in the Power of Attorney Document, in the event another individual also appointed as Attorney-in-Fact is unable or unwilling to perform as Attorney-in-Fact in the first instance. (b)“Attorney-in-Fact” means one or more named individuals appointed by another individual in a Power of Attorney Document to act on his or her behalf under the terms and conditions set forth in the Power of Attorney Document. ![]() The following definitions apply for the purposes of this rule: (a)“Power of Attorney Document” means a written document expressly granting legal authority to another named individual(s) or agent(s) to act on behalf of and to manage some or all financial matters in the name of the individual creating the power of attorney under the terms and conditions set forth in the document. ![]()
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