Title 46, Title 46: PROPERTY

46:2B-14. Banking institutions not liable for action in reliance on power of attorney No banking institution acting in reliance on a power of attorney as set forth in this act, nor any person acting on behalf of such an institution, shall be held liable for injury for any act or …

46:2B-15. Limitations on power of agent Nothing in this act shall be deemed to give an agent any greater authority or rights than the principal could exercise on his own behalf. L.1991,c.95,s.6.

46:2B-16. Banking transaction by agent binds principal Any banking transaction made by an agent or banking institution under the authority of a power of attorney described in this act, unless otherwise invalid or unenforceable, binds the principal and his heirs, devisees, and per…

46:2B-17. Power of attorney not made pursuant to this act valid This act is not intended to be the exclusive method of providing for powers of attorney for bank transactions and nothing herein shall be deemed to invalidate or make inoperable any power of attorney which is not mad…

46:2B-18. Banking institution may retain copy of power of attorney The banking institution may retain a photocopy of the original signed power of attorney presented to it pursuant to subsection f. of section 4 of this act or may retain and rely upon the certified copies of the or…

46:2B-19. Agent acting pursuant to power of attorney shall be a fiduciary An agent presenting or acting pursuant to or relying on a power of attorney described in section 2 of this act shall be a fiduciary within the meaning of the "Uniform Fiduciaries Law," P.L.1981, c.405 (C.3B…

46:2B-8.1 Short title. 1. This act shall be known and may be cited as the "Revised Durable Power of Attorney Act." L.2000,c.109,s.1.

46:2B-8.10 Revocation. 10. Revocation. A power of attorney is revoked when the principal has caused all executed originals of the power of attorney to be physically destroyed; or when the principal has signed and caused to be acknowledged in the manner set forth in R.S.46:14-2.1 …

46:2B-8.11 Certified copies and photocopies. 11. Certified Copies and Photocopies. Any third party to whom the power of attorney is presented may retain and rely upon a photocopy of the original signed document, or may retain and rely upon a certified copy of the original. L.2000…

46:2B-8.12 Compensation of the attorney-in-fact. 12. Compensation of the Attorney-in-Fact. A principal shall have the power to direct whether an attorney-in-fact is to be compensated in a power of attorney or in a separate written agreement dealing with compensation. A principal …

46:2B-8.13 Fiduciary status and duty to account. 13. Fiduciary Status and Duty to Account. a. An attorney-in-fact has a fiduciary duty to the principal, and to the guardian of the property of the principal if the principal has been adjudicated an incapacitated person, to act with…

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 …

46:2B-8.14 Application of act. 14. The provisions of this act shall hereafter apply to any power of attorney made pursuant to the provisions of P.L.1991, c.95 (C.46:2B-10 et seq.) relating to banking transactions under a power of attorney. This act shall complement and not supers…

46:2B-8.2 Powers of attorney; durable powers of attorney; disability defined. 2. Powers of Attorney; Durable Powers of Attorney; Disability Defined. a. A power of attorney is a written instrument by which an individual known as the principal authorizes another individual or indiv…

46:2B-8.3 Durable power of attorney not affected by lapse of time; disability or incapacity. 3. Durable Power of Attorney Not Affected By Lapse of Time; Disability or Incapacity. All acts done by an attorney-in-fact pursuant to a durable power of attorney during any period when t…

46:2B-8.4 Relation of attorney-in-fact to court-appointed fiduciary. 4. Relation of Attorney-in-Fact to Court-Appointed Fiduciary. a. If, following execution of a durable power of attorney, a court of the principal's domicile appoints a conservator, guardian of the estate, or oth…

46:2B-8.5 Power of attorney not revoked until notice. 5. Power of Attorney Not Revoked Until Notice. a. The death of a principal who has executed a written power of attorney, durable or otherwise, does not revoke or terminate the agency as to the attorney-in-fact or other person …

46:2B-8.6 Good faith reliance. 6. Good Faith Reliance. a. Any third party may rely upon the authority granted in a durable power of attorney until the third party has received actual notice of the revocation of the power of attorney, the termination or suspension of the authority…

46:2B-8.7 Multiple attorneys-in-fact. 7. Multiple Attorneys-In-Fact. a. Unless the power of attorney expressly provides otherwise, all authority granted to multiple attorneys-in-fact may be exercised by the one or more who remain after the death, resignation or disability of one …

46:2B-8.8 Delegation by attorney-in-fact. 8. Delegation by Attorney-in-Fact. If the power of attorney shall specifically provide, the attorney-in-fact, in the exercise of reasonable care, skill and caution, may delegate to other agents such one, more, or all of the specific power…

46:2B-8.9 Formality. 9. Formality. A power of attorney must be in writing, duly signed and acknowledged in the manner set forth in R.S.46:14-2.1. L.2000,c.109,s.9.