CHAPTER 138

An Act concerning powers of attorney and supplementing Title 46 of the Revised Statutes.

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

C.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.

    2.    This act shall take effect on the 180th day following enactment and shall apply only to powers of attorney executed on or after the effective date.

    Approved August 1, 2003.