North Carolina Enacts Uniform Power of Attorney Act
North Carolina recently enacted the Uniform Power of Attorney Act (the Act), effective January 1, 2018.
The Act amends the North Carolina General Statues by adding Chapter 32C, cited as the North Carolina Uniform Power of Attorney Act.
Power of Attorney is defined by § 32C-1-102 as “a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used.”
Article 1 of the Act outlines definitions and general provisions, including applicability, durability, execution, and validity of the power of attorney.
A power of attorney created pursuant to Chapter 32C is durable unless the instrument expressly provides that it is terminated by the incapacity of the principal.
Article 2 of the Act includes provisions regarding the general and specific authority that a principal may give an agent in a power of attorney, such as authority involving real property, tangible personal property, and stocks and bonds.
Article 3 provides statutory forms.