OK folks, let's get the misinformation corrected from Rusty and Lakerider.
I just snapped a quick image of one of my panels. Notice the upper right breaker and the steel plate just above it that also connects to the main "feed" breaker. That is an interlock. When power goes out, I open the main breaker, interlock goes up, and the 30A breaker connected to the generator cord gets closed. This gives the option of powering any circuit I want in the house of my chosing. You can't see in the picture but there are little white paint marks on the breakers I made so if I'm traveling I made it easier for my wife to not have to even think.
Totally legal, totally to code. Very efficient. I have a lot of money connected to my panel including line filtering and surge protection. I did not want a permanent generator for several reasons least of which I didn't like where I was going to have to place it and needing a huge gas bottle (ugly). I just built my house 2 years ago and went though the decision process.
This is precisely how a breaker panel in an existing home would be wired in (and the most economical) for a portable generator.
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