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Assembly Bill A8920

2019-2020 Legislative Session

Relates to permitting third party signatures on the statutory short form power of attorney

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Archive: Last Bill Status - In Assembly Committee

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2019-A8920 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
General Obligations Law
Laws Affected:
Amd §§5-1501B & 5-1514, Gen Ob L

2019-A8920 (ACTIVE) - Summary

Relates to permitting third party signatures on the statutory short form power of attorney; authorizes a third party to sign the statutory short form power of attorney and the statutory gifts rider for the principal in the principal's presence and at the principal's direction.

2019-A8920 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8920
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             December 30, 2019
                                ___________
 
 Introduced by M. of A. LENTOL -- read once and referred to the Committee
   on Judiciary
 
 AN  ACT  to amend the general obligations law, in relation to permitting
   third party signatures on the statutory short form power of attorney
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  (b) of subdivision 1 of section 5-1501B of the
 general obligations law, as amended by chapter 340 of the laws of  2010,
 is amended to read as follows:
   (b)  Be signed and dated by a principal with capacity, with the signa-
 ture of the principal duly acknowledged in the manner prescribed for the
 acknowledgment of a conveyance of real property.    ANOTHER  PERSON  MAY
 SIGN  AND  DATE THE POWER OF ATTORNEY FOR THE PRINCIPAL IF THE PRINCIPAL
 IS UNABLE TO DO SO, IN THE PRINCIPAL'S PRESENCE AND AT  THE  PRINCIPAL'S
 DIRECTION.    IN  THE  EVENT  THE POWER OF ATTORNEY IS SIGNED BY A THIRD
 PARTY PURSUANT TO THIS SECTION, THE THIRD PARTY SHALL AFFIX THE  PRINCI-
 PAL'S  INITIALS  ON  THE POWER OF ATTORNEY, AT THE PRINCIPAL'S DIRECTION
 AND IN THE PRINCIPAL'S PRESENCE.
   § 2. Paragraph (b) of subdivision 9 of section 5-1514 of  the  general
 obligations  law,  as  amended  by  chapter  340 of the laws of 2010, is
 amended to read as follows:
   (b) Be signed and dated by a principal with capacity, with the  signa-
 ture of the principal duly acknowledged in the manner prescribed for the
 acknowledgment  of  a  conveyance of real property, and witnessed by two
 persons who are not named in the instrument as permissible recipients of
 gifts, in the manner described in subparagraph two of paragraph  (a)  of
 section  3-2.1  of  the  estates,  powers and trusts law. The person who
 takes the acknowledgment, under this paragraph, may also serve as one of
 the witnesses.  ANOTHER PERSON MAY SIGN AND  DATE  THE  STATUTORY  GIFTS
 RIDER  FOR  THE  PRINCIPAL  IF  THE PRINCIPAL IS UNABLE TO DO SO, IN THE
 PRINCIPAL'S PRESENCE AND AT THE PRINCIPAL'S DIRECTION, AND IN THE  PRES-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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