4. Which statement accurately reflects the duration limitations for powers of attorney?(2024 April No.4 Broker Compliance)
A) Powers of attorney issued by a partnership can be granted for an unlimited period and all other powers of attorney are limited to a period not to exceed two (2) years from the date signed.
B) Powers of attorney issued by a partnership and all other powers of attorney have the same duration limitation of two (2) years from the date signed.
C) Powers of attorney issued by a partnership shall be limited to a period not to exceed two (2) years from the date of execution, while all other powers of attorney may be granted for an unlimited period.
D) Powers of attorney issued by a partnership are valid for five (5) years from the date of execution, while all other powers of attorney may be granted for an unlimited period.
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The Answer is: C
Citation: 19 CFR 141.34
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