Legal definition of Statutory major gifts rider
Power Of Attorney Legal Terminology

Statutory major gifts rider

1
Statutory major gifts rider is a new term adopted by the NY Legislature in 2008. The Statutory major gifts rider (SMGR) must be a part of a valid NY Statutory Short Form of a Power of attorney.
It means a document by which the principal (a person executing a Power of attorney) may supplement a statutory short form power of attorney to authorize an agent to make major gift transactions and other transfers.
The use of the form set forth in subdivision ten of section 5-1514 of NY General Obligations Law.
A statutory major gifts rider and the statutory short form power of attorney it supplements must be read together as a single instrument.
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