assembly Bill A9033

2017-2018 Legislative Session

Reforms the statutory short form and other powers of attorney for purposes of financial and estate planning; repealer

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 20, 2018 reported referred to codes
Jan 12, 2018 referred to judiciary

Co-Sponsors

A9033 (ACTIVE) - Details

See Senate Version of this Bill:
S6501
Current Committee:
Assembly Codes
Law Section:
General Obligations Law
Laws Affected:
Rpld §5-1501 sub 2 ¶(n), §5-1514, amd Gen Ob L, generally
Versions Introduced in 2019-2020 Legislative Session:
A5630, S3923

A9033 (ACTIVE) - Summary

Reforms the statutory short form and other powers of attorney for purposes of financial and estate planning.

A9033 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9033

                          I N  A S S E M B L Y

                            January 12, 2018
                               ___________

Introduced  by  M. of A. WEINSTEIN, LUPARDO, ZEBROWSKI, McDONALD -- read
  once and referred to the Committee on Judiciary

AN ACT to amend the general obligations law, in  relation  to  reforming
  the  statutory short form and other powers of attorney for purposes of
  financial and estate planning; and to  repeal  certain  provisions  of
  such law relating to statutory gift riders

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (j) of subdivision 2 of  section  5-1501  of  the
general  obligations law, as amended by chapter 340 of the laws of 2010,
is amended to read as follows:
  (j) "Power of attorney" means a written document, other than  a  docu-
ment  referred to in section 5-1501C of this title, by which a principal
with capacity designates an agent to  act  on  his  or  her  behalf  AND
INCLUDES  BOTH A STATUTORY SHORT FORM POWER OF ATTORNEY AND A NON-STATU-
TORY POWER OF ATTORNEY.
  § 2. Paragraph (n) of subdivision 2 of section 5-1501 of  the  general
obligations  law is REPEALED, and paragraphs (o), (p) and (q) are relet-
tered paragraphs (n), (o) and (p).
  § 3. Paragraph (n) of subdivision 2 of section 5-1501 of  the  general
obligations  law,  as  amended by chapter 340 of the laws of 2010 and as
relettered by section two of this act, is amended to read as follows:
  (n) "Statutory short form power of attorney" means a power of attorney
that meets the requirements of paragraphs (a), (b) and (c)  of  subdivi-
sion one of section 5-1501B of this title, and that [contains the exact]
SUBSTANTIALLY  CONFORMS  TO THE wording of the form set forth in section
5-1513 of this title; PROVIDED HOWEVER, THAT ANY  SECTION  INDICATED  AS
"OPTIONAL"  THAT  IS  NOT  USED MAY BE OMITTED AND REPLACED BY THE WORDS
"INTENTIONALLY OMITTED". [A mistake in wording,  such  as  in  spelling,
punctuation  or  formatting,  or  the  use  of bold or italic type,] ANY
INSUBSTANTIAL VARIATIONS IN THE FORM shall not prevent a power of attor-
ney from being deemed a statutory short form power of attorney, but  the
wording  of  the  form  set  forth in section 5-1513 of this title shall
govern. The use of the form set forth in section 5-1513 of this title is

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets