New Jersey Statutes 46:2B-19. Agent acting pursuant to power of attorney shall be a fiduciary
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Terms Used In New Jersey Statutes 46:2B-19
- Fiduciary: A trustee, executor, or administrator.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
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:14-52 et seq.).
L.1991,c.95,s.10.