§ 32A-14.1. Gifts under power of attorney.
Article 2A.
Authority of Attorney‑In‑Factto Make Gifts and to Renounce.
§ 32A‑14.1. Gifts underpower of attorney.
(a) Except as providedin subsection (b) of this section, if any power of attorney authorizes anattorney‑in‑fact to do, execute, or perform any act that theprincipal might or could do or evidences the principal's intent to give theattorney‑in‑fact full power to handle the principal's affairs ordeal with the principal's property, the attorney‑in‑fact shall havethe power and authority to make gifts in any amount of any of the principal'sproperty to any individual or to any organization described in sections 170(c)and 2522(a) of the Internal Revenue Code or corresponding future provisions offederal tax law, or both, in accordance with the principal's personal historyof making or joining in the making of lifetime gifts. As used in thissubsection, "Internal Revenue Code" means the "Code" asdefined in G.S. 105‑228.90.
(b) Except as providedin subsection (c) of this section, or unless gifts are expressly authorized bythe power of attorney, a power described in subsection (a) of this section maynot be exercised by the attorney‑in‑fact in favor of the attorney‑in‑factor the estate, creditors, or the creditors of the estate of the attorney‑in‑fact.
(c) If the power ofattorney described in subsection (a) of this section is conferred upon two ormore attorneys‑in‑fact, it may be exercised by the attorney‑in‑factor attorneys‑in‑fact who are not disqualified by subsection (b) ofthis section from exercising the power of appointment as if they were the onlyattorney‑in‑fact or attorneys‑in‑fact. If the power ofattorney described in subsection (a) of this section is conferred upon oneattorney‑in‑fact, the power of attorney may be exercised by theattorney‑in‑fact in favor of the attorney‑in‑fact orthe estate, creditors, or the creditors of the estate of the attorney‑in‑factpursuant to an order issued by the clerk in accordance with the procedures andprovisions of Article 2B of this Chapter.
(d) Subsection (a) ofthis section shall not in any way impair the right, power, or ability of anyprincipal, by express terms in the power of attorney, to authorize or limit theauthority of any attorney‑in‑fact to make gifts of the principal'sproperty.
(e) An attorney‑in‑factexpressly authorized by this section to make gifts of the principal's propertymay elect to request that the clerk of the superior court issue an orderapproving a gift or gifts of the property of the principal.
(f) This section shallapply to all powers of attorney executed prior to, on, or after October 1,1995. (1995, c.331, s. 5; 1999‑456, s. 2; 2001‑413, s. 5.2.)