New York General Obligations Law Title 15 - STATUTORY SHORT FORM AND OTHER POWERS OF ATTORNEY FOR FINANCIAL AND ESTATE PLANNING

• 5-1501 - Applications and Definitions.
  5-1501. Application and definitions. 1. This title shall apply to all powers of attorney except powers of attorney excluded from this title by section 5-1501C...
• 5-1501a - Power of Attorney Not Affected by Incapacity.
  1. A power of attorney is durable unless it expressly provides that it is terminated by the incapacity of the principal. 2. The subsequent incapacity...
• 5-1501b - Creation of a Valid Power of Attorney; When Effective.
  1. To be valid, except as otherwise provided in section 5-1512 of this title, a statutory short form power of attorney, or a non-statutory power...
• 5-1501c - Powers of Attorney Excluded From This Title.
  The provisions of this title shall not apply to the following powers of attorney: 1. a power of attorney given primarily for a business or...
• 5-1502a - Construction--Real Estate Transactions.
  In a statutory short form power of attorney, the language conferring general authority with respect to "real estate transactions," must be construed to mean that...
• 5-1502b - Construction--Chattel and Goods Transactions.
  In a statutory short form power of attorney, the language conferring general authority with respect to "chattel and goods transactions," must be construed to mean...
• 5-1502c - Construction--Bond, Share and Commodity Transactions.
  In a statutory short form power of attorney, the language conferring general authority with respect to "bond, share and commodity transactions," must be construed to...
• 5-1502d - Construction--Banking Transactions.
  In a statutory short form power of attorney, the language conferring general authority with respect to "banking transactions," must be construed to mean that the...
• 5-1502e - Construction--Business Operating Transactions.
  In a statutory short form power of attorney, the language conferring general authority with respect to "business operating transactions," must be construed to mean that...
• 5-1502f - Construction--Insurance Transactions.
  In a statutory short form power of attorney, the language conferring general authority with respect to "insurance transactions, " must be construed to mean that...
• 5-1502g - Construction--Estate Transactions.
  In a statutory short form power of attorney, the language conferring general authority with respect to "estate transactions, " must be construed to mean that...
• 5-1502h - Construction--Claims and Litigation.
  In a statutory short form power of attorney, the language conferring general authority with respect to "claims and litigation, " must be construed to mean...
• 5-1502i - Construction--Personal and Family Maintenance.
  In a statutory short form power of attorney, the language conferring general authority with respect to "personal and family maintenance" must be construed to mean...
• 5-1502j - Construction--Benefits From Governmental Programs or Civil or Military Service.
  In a statutory short form power of attorney, the language conferring general authority with respect to "benefits from governmental programs or civil or military service,"...
• 5-1502k - Construction--Health Care Billing and Payment Matters; Records, Reports and Statements.
  In a statutory short form power of attorney, the language conferring general authority with respect to "health care billing and payment matters; records, reports and...
• 5-1502l - Construction--Retirement Benefit Transactions.
  In a statutory short form power of attorney, the language conferring general authority with respect to "retirement benefit transactions" must be construed to mean that...
• 5-1502m - Construction--Tax Matters.
  In a statutory short form power of attorney, the language conferring general authority with respect to "tax matters", must be construed to mean that the...
• 5-1502n - Construction--All Other Matters.
  In a statutory short form power of attorney, the language conferring general authority with respect to "all other matters" must be construed to mean that...
• 5-1503 - Modifications of the Statutory Short Form Power of Attorney and of the Statutory Gifts Rider.
  A power of attorney which satisfies the requirements of paragraphs (a), (b) and (c) of subdivision one of section 5-1501B and section 5-1513 of this...
• 5-1504 - Acceptance of Statutory Short Form Power of Attorney.
  1. No third party located or doing business in this state shall refuse, without reasonable cause, to honor a statutory short form power of attorney...
• 5-1505 - Standard of Care; Fiduciary Duties; Compelling Disclosure of Record.
  1. Standard of care. In dealing with property of the principal, an agent shall observe the standard of care that would be observed by a...
• 5-1506 - Compensation.
  1. An agent is not entitled to receive compensation from the assets of the principal for responsibilities performed under a power of attorney unless the...
• 5-1507 - Signature of Agent.
  1. (a) In any transaction where the agent is acting pursuant to a power of attorney and where the hand-written signature of the agent or...
• 5-1508 - Co-Agents and Successor Agents.
  1. A principal may designate two or more persons to act as co-agents. Unless the principal provides otherwise in the power of attorney, the co-agents...
• 5-1509 - Appointment of Monitor.
  A principal may appoint a monitor or monitors in the power of attorney who shall have the authority to request, receive and compel the agent...
• 5-1510 - Special Proceedings.
  1. If the agent has failed to make available a copy of the power of attorney and/or a record of all receipts, disbursements, and transactions...
• 5-1511 - Termination or Revocation of Power of Attorney; Notice.
  1. A power of attorney terminates when: (a) the principal dies; (b) the principal becomes incapacitated, if the power of attorney is not durable; (c)...
• 5-1512 - Powers of Attorney Executed in Other Jurisdictions.
  Notwithstanding the provisions of section 5-1501B of this title, a power of attorney executed in another state or jurisdiction in compliance with the law of...
• 5-1513 - Statutory Short Form Power of Attorney.
  1. The use of the following form in the creation of a power of attorney is lawful, and, when used, and executed in accordance with...
• 5-1514 - Certain Gift Transactions; Formal Requirements; Statutory Form.
  1. If the principal intends to authorize the agent to make gifts other than gifts authorized by subdivision fourteen of section 5-1502I of this title,...

Last modified: February 3, 2019