An individual who is given authority to execute legal documents, including bonds or the manager of a reciprocal exchange, which is an insurance arrangement whereby risk is transferred to other members. The attorney-in-fact need not be a lawyer.
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A person who is authorized by letter or power of attorney to act on behalf of another, the principal, for a particular act or purpose as differentiated from the general practice of law; and attorney-in-fact acts as an Agent for the principal, but within a specifically limited areas of authority. An Agent or broker issuing an Insurance Policy acts as attorney-in-fact to bind the Insurer or accept premium payments. In bonding and surety ship contracts, a person binding the surety Company is an attorney-in-fact for the surety.