46:2B-8.13a - Power of attorney; gift of principal's property; prohibited
46:2B-8.13a. Power of attorney; gift of principal's property; prohibited
1.A power of attorney shall not be construed to authorize the attorney-in-fact to gratuitously transfer property of the principal to the attorney-in-fact or to others except to the extent that the power of attorney expressly and specifically so authorizes. An authorization in a power of attorney to generally perform all acts which the principal could perform if personally present and capable of acting, or words of like effect or meaning, is not an express or specific authorization to make gifts.
L.2003,c.138.