senate Bill S6501A

2017-2018 Legislative Session

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

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Archive: Last Bill Status - In Senate Committee Judiciary 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 (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 03, 2018 referred to judiciary
Jun 20, 2017 print number 6501a
Jun 20, 2017 amend and recommit to rules
Jun 06, 2017 reported and committed to rules
May 26, 2017 referred to judiciary

Votes

view votes

Jun 6, 2017 - Judiciary committee Vote

S6501
17
0
committee
17
Aye
0
Nay
5
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show committee vote details

S6501 - Details

See Assembly Version of this Bill:
A9033
Current Committee:
Senate Judiciary
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:
S3923, A5630

S6501 - Summary

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

S6501 - Sponsor Memo

S6501 - Bill Text download pdf


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

                                  6501

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                              May 26, 2017
                               ___________

Introduced  by  Sen.  HANNON -- read twice and ordered printed, and when
  printed to be committed 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-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

S6501A (ACTIVE) - Details

See Assembly Version of this Bill:
A9033
Current Committee:
Senate Judiciary
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:
S3923, A5630

S6501A (ACTIVE) - Summary

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

S6501A (ACTIVE) - Sponsor Memo

S6501A (ACTIVE) - Bill Text download pdf


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

                                 6501--A

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                              May 26, 2017
                               ___________

Introduced  by  Sen.  HANNON -- read twice and ordered printed, and when
  printed to be committed to the  Committee  on  Judiciary  --  reported
  favorably  from said committee and committed to the Committee on Rules
  -- committee discharged, bill amended, ordered  reprinted  as  amended
  and recommitted to said committee

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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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