Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Sep 23, 2014 |
signed chap.391 |
Sep 11, 2014 |
delivered to governor |
Jun 09, 2014 |
returned to senate passed assembly ordered to third reading cal.881 substituted for a9759 |
May 20, 2014 |
referred to judiciary delivered to assembly passed senate |
May 05, 2014 |
advanced to third reading amended 7077a |
Apr 30, 2014 |
2nd report cal. |
Apr 29, 2014 |
1st report cal.426 |
Apr 23, 2014 |
referred to judiciary |
Senate Bill S7077A
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
Bill Amendments
2013-S7077 - Details
- See Assembly Version of this Bill:
- A9759
- Law Section:
- Estates, Powers and Trusts Law
- Laws Affected:
- Amd §13-2.3, EPT L
2013-S7077 - Sponsor Memo
BILL NUMBER:S7077 TITLE OF BILL: An act to amend the estates, powers and trusts law, in relation to powers of attorney in relation to decedents' estates required to be in writing and recorded This is one in a series of measures being introduced at the request of the Chief Administrative Judge upon the recommendation of her Surrogate's Court Advisory Committee. We recommend this measure to clarify the law with regard to the filing of an agreement with the Surrogate's Court by an abandoned property services locator under SCPA 1310 and a rule requirement adopted by the Office of Unclaimed Funds of the New York Office of the State Comptroller ("OSC"). The measure would eliminate the current practice whereby any "finder's agreement" that has been executed by a potential claimant to such unclaimed funds must be filed with the Surrogate's Court when no estate has been opened and no fiduciary has been appointed for the estate. Currently, a claimant who is not a fiduciary may enter into an agreement with an abandoned property services locator or other similar agent to pay the agent up to 15% of the unclaimed funds recovered. A claimant who has not been appointed as a fiduciary is not authorized to represent the estate. The agreement is simply a contract between two individuals, neither of whom has the authority to represent the
2013-S7077 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7077 I N S E N A T E April 23, 2014 ___________ Introduced by Sen. BONACIC -- (at request of the Office of Court Admin- istration) -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the estates, powers and trusts law, in relation to powers of attorney in relation to decedents' estates required to be in writing and recorded THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 13-2.3 of the estates, powers and trusts law is amended by adding a new paragraph (e) to read as follows: (E) NOTWITHSTANDING THE PROVISIONS OF ANY OTHER STATUTE OR RULE, NO INSTRUMENT CONTAINING A DELEGATION OF POWERS, ASSIGNMENT OF INTEREST, FEE ARRANGEMENT, OR ANY INSTRUMENT OF LIKE IMPORT CREATED FOR THE PURPOSE OF PARTICIPATING ON BEHALF OF AN INDIVIDUAL IN ANY APPLICATION SEEKING THE RECOVERY OF PROPERTY PURSUANT TO SECTION FOURTEEN HUNDRED TEN OF THE ABANDONED PROPERTY LAW OR SECTION THIRTEEN HUNDRED TEN OF THE SURROGATE'S COURT PROCEDURE ACT, NOR ANY POWER OF ATTORNEY, SHALL BE ACCEPTED FOR FILING OR RECORDING BY THE SURROGATE'S COURT OF A PARTIC- ULAR COUNTY UNLESS A FIDUCIARY, AS THAT TERM IS DEFINED BY SUBDIVISION TWENTY-ONE OF SECTION ONE HUNDRED THREE OF THE SURROGATE'S COURT PROCE- DURE ACT, HAS BEEN APPOINTED, OR A PROCEEDING FOR THE APPOINTMENT OF A FIDUCIARY IS PENDING IN SUCH COURT. THE PROVISIONS OF PARAGRAPH (B) OF THIS SECTION SHALL APPLY TO ALL INSTRUMENTS ELIGIBLE FOR FILING AND RECORDING HEREUNDER. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13631-01-4
2013-S7077A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9759
- Law Section:
- Estates, Powers and Trusts Law
- Laws Affected:
- Amd §13-2.3, EPT L
2013-S7077A (ACTIVE) - Sponsor Memo
BILL NUMBER:S7077A TITLE OF BILL: An act to amend the estates, powers and trusts law, in relation to powers of attorney in relation to decedents' estates required to be in writing and recorded This is one in a series of measures being introduced at the request of the Chief Administrative Judge upon the recommendation of her Surrogate's Court Advisory Committee. We recommend this measure to clarify the law with regard to the filing of an agreement with the Surrogate's Court by an abandoned property services locator under SCPA 1310 and a rule requirement adopted by the Office of Unclaimed Funds of the New York Office of the State Comptroller ("OSC"). The measure would eliminate the current practice whereby any "finder's agreement" that has been executed by a potential claimant to such unclaimed funds must be filed with the Surrogate's Court when no estate has been opened and no fiduciary has been appointed for the estate. Currently, a claimant who is not a fiduciary may enter into an agreement with an abandoned property services locator or other similar agent to pay the agent up to 15% of the unclaimed funds recovered. A claimant who has not been appointed as a fiduciary is not authorized to represent the estate. The agreement is simply a contract between two individuals, neither of whom has the authority to represent the
2013-S7077A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7077--A Cal. No. 426 I N S E N A T E April 23, 2014 ___________ Introduced by Sen. BONACIC -- (at request of the Office of Court Admin- istration) -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary -- reported favorably from said committee, ordered to first and second report, amended on second report, ordered to a third reading, and to be reprinted as amended, retaining its place in the order of third reading AN ACT to amend the estates, powers and trusts law, in relation to powers of attorney in relation to decedents' estates required to be in writing and recorded THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 13-2.3 of the estates, powers and trusts law is amended by adding a new paragraph (e) to read as follows: (E) NOTWITHSTANDING THE PROVISIONS OF ANY OTHER STATUTE OR RULE, NO INSTRUMENT CONTAINING A DELEGATION OF POWERS, ASSIGNMENT OF INTEREST, FEE ARRANGEMENT, OR ANY INSTRUMENT OF LIKE IMPORT CREATED FOR THE PURPOSE OF PARTICIPATING ON BEHALF OF AN INDIVIDUAL IN ANY APPLICATION SEEKING THE RECOVERY OF PROPERTY PURSUANT TO SECTION FOURTEEN HUNDRED SIXTEEN OF THE ABANDONED PROPERTY LAW OR SECTION THIRTEEN HUNDRED TEN OF THE SURROGATE'S COURT PROCEDURE ACT, NOR ANY POWER OF ATTORNEY, SHALL BE ACCEPTED FOR FILING OR RECORDING BY THE SURROGATE'S COURT OF A PARTIC- ULAR COUNTY UNLESS THE AMOUNT AT ISSUE IS IN EXCESS OF ONE THOUSAND DOLLARS OR A FIDUCIARY, AS THAT TERM IS DEFINED BY SUBDIVISION TWENTY-ONE OF SECTION ONE HUNDRED THREE OF THE SURROGATE'S COURT PROCE- DURE ACT, HAS BEEN APPOINTED, OR A PROCEEDING FOR THE APPOINTMENT OF A FIDUCIARY IS PENDING IN SUCH COURT. THE PROVISIONS OF PARAGRAPH (B) OF THIS SECTION SHALL APPLY TO ALL INSTRUMENTS ELIGIBLE FOR FILING AND RECORDING HEREUNDER. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13631-02-4
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.