The New York State Senate

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

                                 3923--A
    Cal. No. 589

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            February 21, 2019
                               ___________

Introduced  by  Sen. HOYLMAN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Judiciary  --  recommitted
  to the Committee on Judiciary in accordance with Senate Rule 6, sec. 8
  -- reported favorably from said committee, ordered to first and second
  report,  ordered  to  a  third reading, amended and ordered reprinted,
  retaining its place in the order of third reading

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obligations  law is REPEALED, and paragraphs (o), (p) and (q) are relet-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

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

                      [ ] is old law to be omitted.
                                                           LBD00875-03-0

S. 3923--A                          2

"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, shall not
prevent  a]  A  GIVEN  power  of attorney [from being deemed a statutory
short form power of attorney, but the wording of the form] SUBSTANTIALLY
CONFORMS TO THE FORM REQUIRED PURSUANT TO SECTION 5-1513 OF  THIS  TITLE
NOTWITHSTANDING  THAT  THE FORM CONTAINS (I) AN INSIGNIFICANT MISTAKE IN
WORDING, SPELLING, PUNCTUATION OR FORMATTING, OR  THE  USE  OF  BOLD  OR
ITALIC  TYPE; OR (II) USES LANGUAGE THAT IS ESSENTIALLY THE SAME AS, BUT
IS NOT IDENTICAL TO, THE STATUTORY FORM,  INCLUDING  UTILIZING  LANGUAGE
FROM  A PREVIOUS STATUTE. THE DETERMINATION OF WHETHER THERE IS SUBSTAN-
TIAL CONFORMITY WITH THE FORM set forth in section 5-1513 of this  title
[shall  govern] SHALL NOT DEPEND ON THE PRESENCE OR ABSENCE OF A PARTIC-
ULAR CLAUSE.  FAILING TO INCLUDE CLAUSES THAT  ARE  NOT  RELEVANT  TO  A
GIVEN POWER OF ATTORNEY SHALL NOT IN ITSELF CAUSE SUCH POWER OF ATTORNEY
TO  BE  FOUND TO NOT SUBSTANTIALLY CONFORM WITH THE REQUIREMENTS OF SUCH
FORM. The use of the form set forth in section 5-1513 of this  title  is
lawful  and  when  used, it shall be construed as a statutory short form
power of attorney. A statutory short form power of attorney may be  used
to  grant authority provided in sections 5-1502A through 5-1502N of this
title. A "statutory short form power of attorney" may contain  modifica-
tions  or additions as provided in section 5-1503 of this title[, but in
no event may it be modified to grant any authority provided  in  section
5-1514 of this title. If the authority (SGR) on the statutory short form
is  initialed by the principal, the statutory short form power of attor-
ney must be executed in the manner provided in section 5-1501B  of  this
title,  simultaneously with the statutory gifts rider. A statutory short
form power of attorney and a statutory gifts rider which supplements  it
must be read together as a single instrument].
  §  4.  Subdivisions  1  and  2 of section 5-1501B of the general obli-
gations law, as added by chapter 644 of the laws of  2008,  the  opening
paragraph  and  paragraphs (b) and (c) of subdivision 1, and the opening
paragraph and paragraph (a) of subdivision 2 as amended by  chapter  340
of the laws of 2010, are amended to read as follows:
  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 of attorney, executed in this state by a principal, must:
  (a) Be typed or printed using letters which are legible  or  of  clear
type  no less than twelve point in size, or, if in writing, a reasonable
equivalent thereof.
  (b) Be signed, INITIALED and dated by a principal with capacity, OR IN
THE NAME OF SUCH PRINCIPAL BY ANOTHER PERSON, OTHER THAN A PERSON DESIG-
NATED AS THE PRINCIPAL'S AGENT OR SUCCESSOR AGENT,  IN  THE  PRINCIPAL'S
PRESENCE  AND  AT  THE  PRINCIPAL'S  DIRECTION,  IN EITHER CASE with the
signature of the [principal] PERSON SIGNING  duly  acknowledged  in  the
manner prescribed for the acknowledgment of a conveyance of real proper-
ty  IN THE PRESENCE OF THE PRINCIPAL.  WHEN A PERSON SIGNS AT THE DIREC-
TION OF A PRINCIPAL HE OR SHE SHALL SIGN  BY  WRITING  OR  PRINTING  THE
PRINCIPAL'S NAME, AND PRINTING AND SIGNING HIS OR HER OWN NAME.
  (c) Be signed and dated by any agent acting on behalf of the principal
with  the  signature  of  the  agent  duly  acknowledged  in  the manner
prescribed for the acknowledgment of a conveyance of  real  property.  A
power of attorney executed pursuant to this section is not invalid sole-
ly  because  there has been a lapse of time between the date of acknowl-
edgment of the signature of the principal  and  the  date  or  dates  of
acknowledgment  of the signature or signatures of any agent or agents or

S. 3923--A                          3

successor agent or successor agents authorized to act on behalf  of  the
principal  or because the principal became incapacitated during any such
lapse of time.
  (d) [Contain the exact] SUBSTANTIALLY CONFORM TO THE wording of the:
  (1)  "Caution to the Principal" in paragraph (a) of subdivision one of
section 5-1513 of this title; and
  (2) "Important Information for the Agent" in paragraph (n) of subdivi-
sion one of section 5-1513 of this title.
  2. [In addition  to  the  requirements  of  subdivision  one  of  this
section,  to  be  valid for the purpose of authorizing the agent to make
certain gift transactions described in section 5-1514 of this title:
  (a) a statutory short form power of attorney must contain the authori-
ty (SGR) initialed by the principal and be accompanied by a valid statu-
tory gifts rider; and
  (b) a non-statutory power of attorney must be executed pursuant to the
requirements of paragraph (b) of subdivision nine of section  5-1514  of
this  title.]  INSUBSTANTIAL VARIATION IN THE WORDING OF THE "CAUTION TO
THE PRINCIPAL" OF PARAGRAPH (A) OF SUBDIVISION ONE OF SECTION 5-1513  OF
THIS  TITLE OR OF THE "IMPORTANT INFORMATION FOR THE AGENT" OF PARAGRAPH
(N) OF SUBDIVISION ONE OF SECTION 5-1513 OF THIS TITLE SHALL NOT PREVENT
A POWER OF ATTORNEY FROM BEING DEEMED A STATUTORY SHORT  FORM  POWER  OF
ATTORNEY OR A NON-STATUTORY POWER OF ATTORNEY.
  §  5.  Subdivisions  2  and  9 of section 5-1502A of the general obli-
gations law, as amended by chapter 340 of the laws of 2010, are  amended
to read as follows:
  2.  To  sell, to exchange, to convey either with or without covenants,
to quit-claim, to release, to surrender, to mortgage,  to  incumber,  to
partition or to consent to the partitioning, to create, modify or revoke
a  trust  [unless  such  creation,  modification or revocation is a gift
transaction governed by section 5-1514 of this title,] to grant  options
concerning,  to  lease  or  to  sublet,  or otherwise to dispose of, any
estate or interest in land;
  9. To execute, to acknowledge,  to  seal  and  to  deliver  any  deed,
creation,  modification  or revocation of a trust [unless such creation,
modification or revocation is a gift  transaction  governed  by  section
5-1514  of  this title], mortgage, lease, notice, check or other instru-
ment which the agent may think useful for the accomplishment of  any  of
the purposes enumerated in this section;
  §  6.  Subdivisions  2  and  7 of section 5-1502B of the general obli-
gations law, as amended by chapter 340 of the laws of 2010, are  amended
to read as follows:
  2.  To  sell, to exchange, to convey either with or without covenants,
to release, to surrender,  to  mortgage,  to  incumber,  to  pledge,  to
hypothecate,  to  pawn, to create, modify or revoke a trust [unless such
creation, modification or revocation is a gift transaction  governed  by
section  5-1514  of this title] to grant options concerning, to lease or
to sublet to others, or otherwise to dispose of any chattel or goods  or
any interest in any chattel or goods;
  7.  To execute, to acknowledge, to seal and to deliver any conveyance,
mortgage, lease, creation, revocation or modification of a trust [unless
such creation, modification or revocation is a gift transaction governed
by section 5-1514 of this title],  notice,  check  or  other  instrument
which  the  agent  may think useful for the accomplishment of any of the
purposes enumerated in this section;

S. 3923--A                          4

  § 7. Subdivisions 2 and 9 of section  5-1502C  of  the  general  obli-
gations  law, as amended by chapter 340 of the laws of 2010, are amended
to read as follows:
  2.  To  sell  (including short sales), to exchange, to transfer either
with or without a guaranty, to release, to surrender, to hypothecate, to
pledge, to create, modify or  revoke  a  trust  [unless  such  creation,
modification  or  revocation  is  a gift transaction governed by section
5-1514 of this title,] to grant options concerning, to  loan,  to  trade
in,  or  otherwise  to dispose of any bond, share, instrument of similar
character, commodity interest or any instrument with respect thereto;
  9. To execute, to acknowledge, to seal and  to  deliver  any  consent,
agreement,  authorization,  creation,  modification  or  revocation of a
trust [unless such creation, declaration, modification or revocation  is
a  gift  transaction  governed by section 5-1514 of this title], assign-
ment, notice, waiver of notice, check, or  other  instrument  which  the
agent  may  think  useful  for the accomplishment of any of the purposes
enumerated in this section;
  § 8. Subdivision 1 of section 5-1502D of the general obligations  law,
as amended by chapter 644 of the laws of 2008, paragraphs (a) and (b) as
amended  by  chapter  340  of  the  laws  of 2010, is amended to read as
follows:
  1. To continue, to modify, to terminate and to make  deposits  to  and
withdrawals  from  any deposit account, including any joint account with
the agent or totten trust for the benefit of the agent, or other banking
arrangement made by or on behalf of the principal prior to the  creation
of the agency, provided, however, that:
  (a)  with  respect  to  joint accounts existing at the creation of the
agency, the authority granted hereby shall  not  include  the  power  to
change the title of the account by the addition of a new joint tenant or
the  deletion  of an existing joint tenant, unless the authority to make
such changes is [conveyed in a statutory gifts rider to] EXPRESSLY STAT-
ED OTHERWISE IN THE "MODIFICATIONS" SECTION OF a  statutory  short  form
power  of  attorney  or  in a non-statutory power of attorney signed and
dated by the principal with the signature of the principal duly acknowl-
edged in the manner prescribed for the acknowledgement of  a  conveyance
of  real property, and which is executed pursuant to the requirements of
[paragraph (b) of subdivision nine of] section [5-1514] 5-1501B of  this
title, and
  (b)  with respect to totten trust accounts existing at the creation of
the agency, the authority granted hereby shall not include the power  to
add,  delete,  or  otherwise  change the designation of beneficiaries in
effect for any such accounts, unless the authority to  make  such  addi-
tions,  deletions or changes is [conveyed in a statutory gifts rider to]
EXPRESSLY STATED OTHERWISE IN THE "MODIFICATIONS" SECTION OF a statutory
short form power of attorney or in a  non-statutory  power  of  attorney
signed  and  dated  by the principal with the signature of the principal
duly acknowledged in the manner prescribed for the acknowledgment  of  a
conveyance  of  real  property,  and  which  is executed pursuant to the
requirements of [paragraph (b) of subdivision nine of] section  [5-1514]
5-1501B of this title.
  §  8-a.  Section  5-1502D of the general obligations law is amended by
adding a new subdivision 18 to read as follows:
  18. IF A POWER OF ATTORNEY  REQUIRES  THAT  TWO  OR  MORE  AGENTS  ACT
TOGETHER  AS  CO-AGENTS, ONE OR MORE AGENTS MAY DELEGATE TO THE CO-AGENT
THE AUTHORITY TO CONDUCT BANKING TRANSACTIONS IF THE PRINCIPAL INITIALED

S. 3923--A                          5

SUBJECT (O) IN THE GRANT OF AUTHORITY PROVISIONS OF PARAGRAPH (F) OF THE
STATUTORY SHORT FORM SET FORTH IN SECTION 15-1513 OF THIS TITLE.
  §  9.  Subdivisions  1  and  3 of section 5-1502F of the general obli-
gations law, as amended by chapter 340 of the laws of 2010, are  amended
to read as follows:
  1.  To  continue,  to  pay the premium or assessment on, to modify, to
rescind, to release or to terminate  any  contract  of  life,  accident,
health,  disability  or  liability  insurance or any combination of such
insurance procured by or  on  behalf  of  the  principal  prior  to  the
creation  of  the agency which insures either the principal or any other
person, without regard to whether the principal is or is not a benefici-
ary thereunder;  provided,  however,  with  respect  to  life  insurance
contracts  existing at the creation of the agency, the authority granted
hereby shall not include the power to add, delete  or  otherwise  change
the designation of beneficiaries in effect for any such contract, unless
the  authority to make such additions, deletions or changes is [conveyed
in a statutory gifts rider to] STATED OTHERWISE IN  THE  "MODIFICATIONS"
SECTION OF a statutory short form power of attorney or in a non-statuto-
ry  power  of attorney signed and dated by the principal with the signa-
ture of the principal duly acknowledged in the manner prescribed for the
acknowledgment of a conveyance of real property, and which  is  executed
pursuant  to  the requirements of [paragraph (b) of subdivision nine of]
section [5-1514] 5-1501B of this title;
  3. To apply for and to receive any available loan on the  security  of
the  contract  of insurance, whether for the payment of a premium or for
the procuring of cash, to surrender and thereupon to  receive  the  cash
surrender  value,  to  exercise an election as to beneficiary or mode of
payment, to change the manner of paying premiums, and to  change  or  to
convert  the type of insurance contract, with respect to any contract of
life, accident, health, disability or liability insurance  as  to  which
the  principal  has,  or  claims  to have, any one or more of the powers
described in this section; provided, however, that the authority granted
hereby shall not include the power to add, delete  or  otherwise  change
the designation of beneficiaries in effect for any such contract, unless
the  authority to make such additions, deletions or changes is [conveyed
in a statutory  gifts  rider  to]  EXPRESSLY  STATED  OTHERWISE  IN  THE
"MODIFICATIONS"  SECTION  OF a statutory short form power of attorney or
in a non-statutory power of attorney signed and dated by  the  principal
with  the  signature  of  the  principal duly acknowledged in the manner
prescribed for the acknowledgment of a conveyance of real property,  and
which  is  executed  pursuant  to  the requirements of [paragraph (b) of
subdivision nine of] section [5-1514] 5-1501B of this title;
  § 10. Subdivision 14 of section 5-1502I  of  the  general  obligations
law,  as  amended by chapter 340 of the laws of 2010, is amended to read
as follows:
  14. To continue gifts that the principal customarily made to  individ-
uals  and  charitable organizations prior to the creation of the agency,
provided that in any one calendar year all such gifts shall  not  exceed
five [hundred] THOUSAND dollars in the aggregate; and
  §  11.  The  section  heading,  opening paragraph and subdivision 1 of
section 5-1502K of the general obligations law, as  amended  by  chapter
644 of the laws of 2008, are amended to read as follows:
  Construction--MATTERS  RELATED  TO  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 "MATTERS RELATED TO health care [billing and payment matters;

S. 3923--A                          6

records, reports and statements]," or in a statutory short form power of
attorney properly executed in accordance with the laws in effect at  the
time of its execution, the language conferring authority with respect to
"records,  reports  and  statements," must be construed to mean that the
principal authorizes the agent:
  1. [To access records relating to the provision of health care and  to
make  decisions  relating to the past, present or future payment for the
provision of health care consented to by or on behalf of  the  principal
or  the  principal's health care agent authorized under state law. In so
doing the agent is acting as  the  principal's  personal  representative
pursuant  to  sections  1171 through 1179 of the Social Security Act, as
added by sections 262 and 264 of  Public  Law  104-191,  and  applicable
regulations.  This  authority  shall  not  include authorization for the
agent to make other medical or health care decisions for the  principal]
TO  BE  RESPONSIBLE FOR MATTERS RELATING TO THE PRINCIPAL'S HEALTH CARE,
INCLUDING, BUT NOT LIMITED TO, BENEFIT ENTITLEMENTS  AND  PAYMENT  OBLI-
GATIONS,  AND  IN  SO DOING, NOTWITHSTANDING ANY LAW TO THE CONTRARY, TO
RECEIVE FROM "HEALTH CARE PROVIDERS" AND  "HEALTH  PLANS,"  INFORMATION,
INCLUDING, BUT NOT LIMITED TO, "PROTECTED HEALTH INFORMATION" AS DEFINED
IN  FEDERAL  AND STATE LAW, RULES AND REGULATIONS, IN ORDER TO ASCERTAIN
THE BENEFITS TO WHICH THE PRINCIPAL IS ENTITLED  AND  TO  DETERMINE  THE
LEGITIMACY AND ACCURACY OF CHARGES FOR HEALTH CARE PROVIDED TO THE PRIN-
CIPAL; TO OBTAIN FOR THE PRINCIPAL THE HEALTH CARE BENEFITS TO WHICH THE
PRINCIPAL  IS  ENTITLED;  TO MEET THE PRINCIPAL'S FINANCIAL OBLIGATIONS,
AND PAY BILLS DUE AND OWING, FOR HEALTH CARE PROVIDED TO THE  PRINCIPAL;
AND  TO  REPRESENT THE PRINCIPAL, AND TO ACT AS THE PRINCIPAL'S PERSONAL
REPRESENTATIVE, WITH RESPECT TO MATTERS PERTAINING  TO  THE  PRINCIPAL'S
HEALTH  CARE.  THE  AUTHORITY  GRANTED BY THIS SUBDIVISION IS LIMITED TO
HEALTH CARE FINANCIAL MATTERS AND SHALL NOT  INCLUDE  AUTHORIZATION  FOR
THE AGENT TO MAKE HEALTH CARE DECISIONS FOR THE PRINCIPAL;
  §  12.  Subdivisions  2  and 4 of section 5-1502L of the general obli-
gations law, as amended by chapter 340 of the laws of 2010, are  amended
to read as follows:
  2.  To  make  investment  directions,  to  select  and  change payment
options, and to exercise any  other  election  for  the  principal  with
regard  to  any retirement benefit or plan in which the principal has an
interest, provided, however, that the authority granted hereby shall not
include the authority to add, delete, or  otherwise  change  the  desig-
nation  of  beneficiaries  in  effect for any such retirement benefit or
plan, unless the authority to make such additions, deletions or  changes
is  [conveyed  in a statutory gifts rider to] EXPRESSLY STATED OTHERWISE
IN THE "MODIFICATIONS" SECTION OF a statutory short form power of attor-
ney or in a non-statutory power of attorney  signed  and  dated  by  the
principal  with  the signature of the principal duly acknowledged in the
manner prescribed for the acknowledgment of a conveyance of real proper-
ty, and which is executed pursuant to the requirements of [paragraph (b)
of subdivision nine of] section [5-1514] 5-1501B of this title;
  4. To prepare, execute and deliver any application,  agreement,  trust
agreement [unless such trust agreement is a gift transaction governed by
section  5-1514 of this title], authorization, check or other instrument
or document which may be required under  the  terms  of  any  retirement
benefit  or plan in which the principal has an interest or by the admin-
istrator thereof, or which the agent deems useful for the accomplishment
of any of the purposes enumerated in this section;
  § 13. Section 5-1503 of the general obligations  law,  as  amended  by
chapter 340 of the laws of 2010, is amended to read as follows:

S. 3923--A                          7

  § 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 title is not  prevented  from
being  a "statutory short form power of attorney", [and a document which
satisfies the requirements of  section  5-1514  of  this  title  is  not
prevented  from being a "statutory gifts rider" as either of these terms
is used in the sections of  this  title,]  by  the  fact  that  it  also
contains  additional  language  at  the  section labeled "modifications"
which:
  1. Eliminates from the statutory short form power of attorney [or from
the statutory gifts rider] one or more of the powers enumerated  in  one
or  more  of the constructional sections of this title with respect to a
subdivision of the statutory short form power of  attorney  [or  of  the
statutory gifts rider], affirmatively chosen by the principal; or
  2.  Supplements one or more of the powers enumerated in one or more of
the constructional sections in this title with respect to a  subdivision
of the statutory short form power of attorney [or of the statutory gifts
rider],  affirmatively  chosen by the principal, by specifically listing
additional powers of the agent; or
  3. Makes some additional provision which is not inconsistent with  the
other  provisions  of  the statutory short form power of attorney [or of
the statutory gifts rider], including a provision revoking one  or  more
powers of attorney previously executed by the principal.
  §  14.  Section  5-1504  of the general obligations law, as amended by
chapter 644 of the laws of 2008, the opening paragraph, subparagraphs  1
and  9 of paragraph (a) and paragraph (b) of subdivision 1, subdivisions
2, 3 and 5 as amended and subdivision 7 as added by chapter 340  of  the
laws of 2010, is amended to read as follows:
  § 5-1504. Acceptance of AND RELIANCE UPON ACKNOWLEDGED statutory short
form  power of attorney. 1.  (A) FOR PURPOSES OF THIS SECTION, "ACKNOWL-
EDGED" MEANS PURPORTEDLY VERIFIED BEFORE A NOTARY PUBLIC OR OTHER  INDI-
VIDUAL AUTHORIZED TO TAKE ACKNOWLEDGEMENTS.
  (B)  A  PERSON  THAT  IN  GOOD  FAITH ACCEPTS AN ACKNOWLEDGED POWER OF
ATTORNEY WITHOUT ACTUAL KNOWLEDGE THAT THE SIGNATURE IS NOT GENUINE  MAY
RELY UPON THE PRESUMPTION THAT THE SIGNATURE IS GENUINE.
  (C)  A  PERSON  THAT  IN  GOOD  FAITH ACCEPTS AN ACKNOWLEDGED POWER OF
ATTORNEY WITHOUT ACTUAL KNOWLEDGE THAT THE POWER OF  ATTORNEY  IS  VOID,
INVALID,  OR  TERMINATED,  THAT THE PURPORTED AGENT'S AUTHORITY IS VOID,
INVALID, OR TERMINATED, OR THAT THE AGENT  IS  EXCEEDING  OR  IMPROPERLY
EXERCISING  THE AGENT'S AUTHORITY MAY RELY UPON THE POWER OF ATTORNEY AS
IF THE POWER OF ATTORNEY WERE GENUINE, VALID AND STILL  IN  EFFECT,  THE
AGENT'S AUTHORITY WERE GENUINE, VALID AND STILL IN EFFECT, AND THE AGENT
HAD NOT EXCEEDED AND HAD PROPERLY EXERCISED THE AUTHORITY.
  (D) A PERSON THAT IS ASKED TO ACCEPT AN ACKNOWLEDGED POWER OF ATTORNEY
MAY REQUEST, AND RELY UPON, WITHOUT FURTHER INVESTIGATION:
  (1)  AN  AGENT'S CERTIFICATION UNDER PENALTY OF PERJURY OF ANY FACTUAL
MATTER CONCERNING THE PRINCIPAL, AGENT OR POWER OF ATTORNEY; AND
  (2) AN OPINION OF COUNSEL AS TO ANY MATTER OF LAW CONCERNING THE POWER
OF ATTORNEY IF THE PERSON MAKING THE REQUEST PROVIDES IN  A  WRITING  OR
OTHER RECORD THE REASON FOR THE REQUEST.
  (E)  AN  OPINION  OF  COUNSEL  REQUESTED  UNDER  THIS  SECTION MUST BE
PROVIDED AT THE PRINCIPAL'S EXPENSE UNLESS THE REQUEST IS MADE MORE THAN
TEN BUSINESS DAYS AFTER THE POWER OF ATTORNEY IS PRESENTED  FOR  ACCEPT-
ANCE.

S. 3923--A                          8

  (F)  FOR  PURPOSES  OF THIS SECTION, A PERSON THAT CONDUCTS ACTIVITIES
THROUGH EMPLOYEES IS WITHOUT ACTUAL KNOWLEDGE OF A FACT  RELATING  TO  A
POWER  OF  ATTORNEY, A PRINCIPAL, OR AN AGENT IF THE EMPLOYEE CONDUCTING
THE TRANSACTION INVOLVING THE POWER OF ATTORNEY IS WITHOUT ACTUAL  KNOW-
LEDGE OF THE FACT AFTER MAKING REASONABLE INQUIRY WITH RESPECT THERETO.
  2.  No  third  party  located  or  doing  business in this state shall
refuse, without reasonable cause, to honor a statutory short form  power
of attorney properly executed in accordance with section 5-1501B of this
title,  [including  a  statutory  short  form power of attorney which is
supplemented by a statutory gifts rider,]  or  a  statutory  short  form
power  of  attorney  properly  executed  in  accordance with the laws in
effect at the time of its execution.
  (a) Reasonable cause under this subdivision shall include, but not  be
limited to:
  (1)  the refusal by the agent to provide an original power of attorney
or a copy certified  by  an  attorney  pursuant  to  section  twenty-one
hundred five of the civil practice law and rules, or by a court or other
government entity;
  (2)  the  third  party's  good faith referral of the principal and the
agent OR A PERSON ACTING FOR OR  WITH  THE  AGENT  to  the  local  adult
protective services unit;
  (3) actual knowledge of a report having been made by any person to the
local  adult  protective  services  unit  alleging physical or financial
abuse, neglect, exploitation or abandonment  of  the  principal  by  the
agent OR A PERSON ACTING FOR OR WITH THE AGENT;
  (4)  actual  knowledge  of the principal's death or a reasonable basis
for believing the principal has died;
  (5) actual knowledge of the incapacity of the principal or  a  reason-
able  basis  for believing that the principal is incapacitated where the
power of attorney tendered is a nondurable power of attorney;
  (6) actual knowledge or a reasonable  basis  for  believing  that  the
principal  was  incapacitated  at  the  time  the  power of attorney was
executed;
  (7) actual knowledge or a reasonable  basis  for  believing  that  the
power of attorney was procured through fraud, duress or undue influence;
  (8)  actual  notice,  pursuant  to  subdivision  [three]  FIVE of this
section, of the termination or revocation of the power of attorney; [or]
  (9) the refusal by a  title  insurance  company  to  underwrite  title
insurance  for  a  gift  of  real  property made pursuant to a statutory
[gifts rider] SHORT FORM POWER OF ATTORNEY  or  non-statutory  power  of
attorney  that  does not contain express instructions or purposes of the
principal WITH RESPECT TO GIFTS IN  THE  MODIFICATIONS  SECTION  OF  THE
STATUTORY  SHORT FORM POWER OF ATTORNEY OR IN THE NON-STATUTORY POWER OF
ATTORNEY; OR
  (10) THE REFUSAL OF A REQUEST FOR A CERTIFICATION  OR  AN  OPINION  OF
COUNSEL UNDER PARAGRAPH (D) OF SUBDIVISION ONE OF THIS SECTION.
  (b)  It  shall  be  deemed unreasonable for a third party to refuse to
honor a statutory short form power of attorney[, including  a  statutory
short  form power of attorney which is supplemented by a statutory gifts
rider,] PROPERLY EXECUTED IN ACCORDANCE WITH  SECTION  5-1501B  OF  THIS
TITLE  or  a statutory short form power of attorney properly executed in
accordance with the laws in effect at the time of its execution, if  the
only reason for the refusal is any of the following:
  (1)  the  power  of  attorney is not on a form prescribed by the third
party to whom the power of attorney is presented.

S. 3923--A                          9

  (2) there has been a lapse of time since the execution of the power of
attorney.
  (3)  on  the face of the statutory short form power of attorney, there
is a lapse of time between the date of acknowledgment of  the  signature
of  the principal and the date of acknowledgment of the signature of any
agent.
  [2.] 3. (A) NOT LATER THAN THE TENTH BUSINESS DAY  AFTER  PRESENTATION
OF  AN  ORIGINAL  OR  ATTORNEY  CERTIFIED COPY OF A STATUTORY SHORT FORM
POWER OF ATTORNEY PROPERLY EXECUTED IN ACCORDANCE WITH  SECTION  5-1501B
OF  THIS  TITLE  OR IN ACCORDANCE WITH THE LAWS IN EFFECT AT THE TIME OF
ITS EXECUTION TO A THIRD PARTY FOR ACCEPTANCE, SUCH  THIRD  PARTY  SHALL
EITHER  (A)  HONOR  THE  STATUTORY  SHORT FORM POWER OF ATTORNEY, OR (B)
REJECT THE STATUTORY SHORT FORM POWER OF ATTORNEY IN A WRITING THAT SETS
FORTH THE REASONS FOR SUCH REJECTION, WHICH WRITING SHALL BE SENT TO THE
PRINCIPAL AND THE AGENT AT THE ADDRESSES ON THE POWER  OF  ATTORNEY  AND
SUCH  OTHER  ADDRESSES AS PROVIDED BY THE PRINCIPAL OR THE AGENT, OR (C)
REQUEST THE AGENT TO  EXECUTE  AN  ACKNOWLEDGED  AFFIDAVIT  PURSUANT  TO
SUBDIVISION  SEVEN OF THIS SECTION STATING THAT THE POWER OF ATTORNEY IS
IN FULL FORCE AND EFFECT IF THE STATUTORY SHORT FORM POWER  OF  ATTORNEY
WAS  NOT  SUBMITTED  FOR  ACCEPTANCE  TOGETHER WITH SUCH AN ACKNOWLEDGED
AFFIDAVIT. SUCH REASONS FOR REJECTION MAY INCLUDE, BUT NOT BE LIMITED TO
NON-CONFORMING FORM, MISSING OR WRONG SIGNATURE,  INVALID  NOTARIZATION,
OR  UNACCEPTABLE  IDENTIFICATION.  IN THE EVENT THAT THE STATUTORY SHORT
FORM POWER OF ATTORNEY PRESENTED IS NOT AN ORIGINAL OR  ATTORNEY  CERTI-
FIED  COPY,  AS  PART OF THE INITIAL REJECTION, SUCH SHORT FORM POWER OF
ATTORNEY MAY BE REJECTED FOR SUCH REASON, PROVIDED, HOWEVER, IN EXPLAIN-
ING THE REASON FOR REJECTING THE SHORT FORM POWER OF ATTORNEY, THE THIRD
PARTY SHALL ALSO IDENTIFY SUCH OTHER PROVISIONS OF THE SHORT FORM  POWER
OF ATTORNEY, IF ANY, THAT WOULD OTHERWISE CONSTITUTE CAUSE FOR REJECTION
OF  THE  STATUTORY  SHORT  FORM  POWER  OF  ATTORNEY. IF THE THIRD PARTY
INITIALLY REJECTS THE STATUTORY SHORT FORM POWER OF ATTORNEY IN A  WRIT-
ING  THAT  SETS  FORTH  THE  REASONS FOR SUCH REJECTION, THE THIRD PARTY
SHALL WITHIN SEVEN BUSINESS DAYS AFTER RECEIPT OF A WRITING IN  RESPONSE
TO  THE  REASONS  FOR  SUCH REJECTION (I) HONOR THE STATUTORY SHORT FORM
POWER OF ATTORNEY, OR (II) FINALLY REJECT THE STATUTORY SHORT FORM POWER
OF ATTORNEY IN A WRITING THAT SETS FORTH THE REASONS FOR SUCH REJECTION.
SUCH WRITING SHALL BE SENT TO THE  ADDRESS  PROVIDED  ON  THE  POWER  OF
ATTORNEY,  TO  THE ADDRESS OF THE AGENT, IF ANY, AND MAY ALSO BE SENT TO
SUCH OTHER ADDRESS AS SHALL BE PROVIDED ON THE ACCOUNT DOCUMENTS, OR  TO
THE  ADDRESS OF THE ATTORNEY AS PROVIDED IN AN OPINION OF COUNSEL PURSU-
ANT TO THIS SECTION. IF THE THIRD PARTY REQUESTS THE  AGENT  TO  EXECUTE
SUCH  AN ACKNOWLEDGED AFFIDAVIT, THE THIRD PARTY SHALL HONOR SUCH STATU-
TORY SHORT FORM POWER OF  ATTORNEY  WITHIN  SEVEN  BUSINESS  DAYS  AFTER
RECEIPT  BY  THE THIRD PARTY OF AN ACKNOWLEDGED AFFIDAVIT WHICH COMPLIES
WITH THE PROVISIONS OF SUBDIVISION SEVEN OF THIS SECTION,  STATING  THAT
THE  POWER  OF  ATTORNEY  IS  IN FULL FORCE AND EFFECT UNLESS REASONABLE
CAUSE EXISTS AS DESCRIBED IN PARAGRAPH (A) OF SUBDIVISION  TWO  OF  THIS
SECTION.  FOR  THE PURPOSES OF THIS SUBDIVISION, NOTICE SHALL BE CONSID-
ERED DELIVERED AT THE TIME SUCH NOTICE IS MAILED AND THE  TIME  REQUIRE-
MENTS  IN  WHICH  TO  HONOR  OR REJECT THE STATUTORY SHORT FORM POWER OF
ATTORNEY OR REQUEST THE AGENT TO EXECUTE AN ACKNOWLEDGED AFFIDAVIT SHALL
NOT APPLY TO THE DEPARTMENT OF AUDIT AND CONTROL OR A PUBLIC  RETIREMENT
SYSTEM OF THE STATE AS DEFINED IN SUBDIVISION SIX OF SECTION ONE HUNDRED
FIFTY-TWO OF THE RETIREMENT AND SOCIAL SECURITY LAW.
  (B)  NOTICE TO THE AGENT AS REQUIRED BY PARAGRAPH (A) OF THIS SUBDIVI-
SION SHALL NOT BE SENT UNTIL AFTER A  DETERMINATION  IS  MADE  BY  ADULT

S. 3923--A                         10

PROTECTIVE SERVICES IF THE REASON FOR REJECTION IS A REASON SET FORTH IN
SUBDIVISION  TWO  OF  THIS SECTION AND IS OTHERWISE PROHIBITED BY LAW OR
REGULATION.
  4.  (A)  ONCE  REASONABLY ACCEPTED, IF A THIRD PARTY CONDUCTS A TRANS-
ACTION IN RELIANCE ON A PROPERLY EXECUTED STATUTORY SHORT FORM POWER  OF
ATTORNEY,  THE THIRD PARTY SHALL BE HELD HARMLESS FROM LIABILITY FOR THE
TRANSACTION.
  (B) Except as provided in subdivision [three] FIVE of this section, it
shall be deemed unlawful for a third party  to  unreasonably  refuse  to
honor  a  properly  executed  statutory  short  form power of attorney[,
including a statutory short form power of attorney which is supplemented
by a statutory gifts rider,] EXECUTED IN ACCORDANCE WITH SECTION 5-1501B
OF THIS TITLE or a statutory  short  form  power  of  attorney  properly
executed  in  accordance  with  the  laws  in  effect at the time of its
execution. [A] IF A special proceeding as authorized by  section  5-1510
of this title IS BROUGHT TO COMPEL THE THIRD PARTY TO HONOR THE STATUTO-
RY  SHORT FORM POWER OF ATTORNEY, THE COURT MAY AWARD DAMAGES, INCLUDING
REASONABLE ATTORNEY'S FEES AND COSTS, IF THE COURT FINDS THAT THE  THIRD
PARTY  ACTED  UNREASONABLY  IN  REFUSING  TO HONOR THE AGENT'S AUTHORITY
UNDER THE STATUTORY SHORT FORM POWER OF ATTORNEY. SUCH SPECIAL  PROCEED-
ING shall be the exclusive remedy for a violation of this section.
  [3.]  5.  In the absence of actual knowledge that the principal lacked
capacity to execute a statutory short form power of attorney or that the
statutory short form power  of  attorney  was  procured  through  fraud,
duress  or  undue  influence,  no  third party receiving and retaining a
[properly executed] statutory short  form  power  of  attorney  PROPERLY
EXECUTED  IN ACCORDANCE WITH SECTION 5-1501B OF THIS TITLE, [including a
statutory short form power of attorney which is supplemented by a statu-
tory gifts rider] or a statutory short form power of  attorney  properly
executed  in  accordance  with  the  laws  in  effect at the time of its
execution, or a complete  photostatic  copy  of  the  properly  executed
original  thereof,  nor any officer, agent, attorney-in-fact or employee
of such third party shall incur any liability by reason of  acting  upon
the  authority thereof unless the third party shall have received actual
notice of the revocation or termination of such power of attorney.
  If a principal maintains an account at a  financial  institution,  the
financial institution is deemed to have actual notice after it has had a
reasonable  opportunity  to act on a written notice of the revocation or
termination following its receipt of the same at its office  where  such
account is located.
  [4.]  6.  If the application of the provisions of subdivision [one or]
two OR FOUR of this section shall be held invalid to any third party the
application of such provisions to any third party other  than  those  to
which it is held invalid, shall not be affected thereby.
  [5.]  7.  When the power of attorney is presented to a third party, it
shall not be deemed unreasonable for a third party to require the  agent
to  execute an acknowledged affidavit pursuant to this subdivision stat-
ing that the power of attorney is in full  force  and  effect.  Such  an
affidavit is conclusive proof to the third party relying on the power of
attorney  that the power of attorney is valid and effective, and has not
been terminated, revoked or modified, except as to any third  party  who
had  actual  notice  that  the  power  of  attorney had terminated, been
revoked or been modified prior to the execution of the  affidavit.  Such
affidavit shall state that:
  (a)  the  agent  does not have, at the time of the transaction, actual
notice of the termination or revocation of the  power  of  attorney,  or

S. 3923--A                         11

notice  of  any  facts  indicating  that  the power of attorney has been
terminated or revoked;
  (b)  the  agent  does not have, at the time of the transaction, actual
notice that the power of attorney has been  modified  in  any  way  that
would  affect  the  ability  of  the agent to authorize or engage in the
transaction, or notice of any facts indicating that the power of  attor-
ney has been so modified;
  (c) if the agent was named as a successor agent, the prior agent is no
longer able or willing to serve; and
  (d)  if the agent has been the principal's spouse, the power of attor-
ney expressly provides that divorce or annulment as defined in  subpara-
graph  two  of paragraph (f) of section 5-1.4 of the estates, powers and
trusts law does not terminate the agent's authority thereunder,  or  the
agent  does not have actual notice that the marriage has been terminated
by divorce or annulment as defined in subparagraph two of paragraph  (f)
of  section  5-1.4  of the estates, powers and trusts law at the time of
the transaction.
  [6.] 8. Nothing in this section shall require the acceptance of a form
that is not a statutory short form power of attorney.
  [7.] 9. A statutory short form power of attorney  or  a  non-statutory
power  of  attorney  that  meets  the requirements of subdivision one of
section 5-1501B of this title shall be accepted for recording so long as
it has been signed by one agent named therein whose signature  has  been
acknowledged.  If  two  or more agents acting on behalf of the principal
are required to act together, the power of attorney  shall  be  accepted
for recording as long as their signatures have been acknowledged. When a
successor or co-agent authorized to act separately from any other agents
presents  a  certified  copy of a recorded statutory short form power of
attorney or non-statutory power of attorney with the  agent's  signature
acknowledged, the instrument shall be accepted for recording.
  §  15.  Subparagraph  2  of  paragraph (a) of subdivision 2 of section
5-1505 of the general obligations law, as amended by chapter 340 of  the
laws of 2010, is amended to read as follows:
  (2)  To  keep  the principal's property separate and distinct from any
other property owned or controlled by the  agent,  except  for  property
that  is  jointly  owned  by  the principal and agent at the time of the
execution of the power of attorney, and property  that  becomes  jointly
owned  after the execution of the power of attorney as the result of the
agent's acquisition of an interest in the principal's property by reason
of the agent's  exercise  of  authority  granted  in  THE  MODIFICATIONS
SECTION  OF a statutory [gifts rider] SHORT FORM POWER OF ATTORNEY or in
a non-statutory power of attorney [signed and  dated  by  the  principal
with  the  signature  of  the  principal duly acknowledged in the manner
prescribed for the acknowledgment of a conveyance of real property,  and
which  is  executed  pursuant  to  the  requirements of paragraph (b) of
subdivision nine of section 5-1514 of this title].  The  agent  may  not
make  gifts [to] OF the principal's property to himself or herself with-
out specific authorization in a power of attorney.
  § 16. Paragraphs (h) and (i) of subdivision 2 of section 5-1510 of the
general obligations law, as added by chapter 644 of the  laws  of  2008,
are amended to read as follows:
  (h) to construe any provision of a power of attorney; OR
  (i)  to compel acceptance of the power of attorney [in which event the
relief to be granted is limited to an order compelling acceptance].
  § 17. Section 5-1513 of the general obligations  law,  as  amended  by
chapter 340 of the laws of 2010, is amended to read as follows:

S. 3923--A                         12

  § 5-1513.  Statutory short form power of attorney. [1.] The use of the
following form, OR ONE WHICH SUBSTANTIALLY  CONFORMS  TO  THE  FOLLOWING
FORM,  in the creation of a power of attorney is lawful, and, when used,
and executed in accordance with subdivision one of  section  5-1501B  of
this  title,  it  shall  be construed as a statutory short form power of
attorney in accordance with  the  provisions  of  this  title;  PROVIDED
HOWEVER,  THAT ANY SECTION INDICATED AS "OPTIONAL" WHICH IS NOT USED MAY
BE OMITTED AND REPLACED BY THE WORDS "INTENTIONALLY OMITTED":

                           "POWER OF ATTORNEY
                      NEW YORK STATUTORY SHORT FORM
  (a) CAUTION TO THE PRINCIPAL:  Your Power of Attorney is an  important
document.  As the "principal," you give the person whom you choose (your
"agent") authority to spend your money and sell or dispose of your prop-
erty during your lifetime without telling you.  You  do  not  lose  your
authority  to act even though you have given your agent similar authori-
ty.

  When your agent exercises this authority, he or she must act according
to any instructions you have provided or, where there  are  no  specific
instructions,  in  your  best  interest.  "Important Information for the
Agent" at the end of this document describes your  agent's  responsibil-
ities.

  Your  agent  can  act  on  your behalf only after signing the Power of
Attorney before a notary public.
  You can request information from your agent at any time.  If  you  are
revoking a prior Power of Attorney, you should provide written notice of
the  revocation  to your prior agent(s) and to any third parties who may
have acted upon it, including  the  financial  institutions  where  your
accounts are located.
  You can revoke or terminate your Power of Attorney at any time for any
reason  as  long as you are of sound mind. If you are no longer of sound
mind, a court can remove an agent for acting improperly.

  Your agent cannot make health care decisions for you. You may  execute
a "Health Care Proxy" to do this.

  The  law  governing  Powers  of  Attorney is contained in the New York
General Obligations Law, Article 5, Title 15. This law is available at a
law library, or online through the New York  State  Senate  or  Assembly
websites,       [www.senate.state.ny.us]       WWW.NYSENATE.GOV       or
[www.assembly.state.ny.us] WWW.NYASSEMBLY.GOV.

  If there is anything about this document that you do  not  understand,
you should ask a lawyer of your own choosing to explain it to you.
(b) DESIGNATION OF AGENT(S):
I, _______________________________________________, hereby appoint:
      name and address of principal
_____________________________________________________as my agent(s)
      name(s) and address(es) of agent(s)
  If  you  designate  more than one agent above AND YOU DO NOT INITIAL A
STATEMENT BELOW, they must act together [unless you initial  the  state-
ment below].

      (   ) MY AGENTS MUST ACT TOGETHER.

S. 3923--A                         13

      (   ) My successor agents may act SEPARATELY.
(c) DESIGNATION OF SUCCESSOR AGENT(S): (OPTIONAL)
  If  any  agent  designated  above  is  unable or unwilling to serve, I
appoint as my successor agent(s):
  _______________________________________________________________
  name(s) and address(es) of successor agent(s)
[Successor] IF YOU DO NOT INITIAL A STATEMENT  BELOW,  SUCCESSOR  agents
designated  above  must  act  together [unless you initial the statement
below].

      (   ) MY AGENTS MUST ACT TOGETHER.
      (   ) My successor agents may act SEPARATELY.
  You may provide for specific succession rules in this section.  Insert
specific succession provisions here:
(d)  This POWER OF ATTORNEY shall not be affected by my subsequent inca-
pacity unless I have stated otherwise below, under "Modifications".

(e) This POWER OF ATTORNEY DOES NOT REVOKE any Powers of Attorney previ-
ously executed by  me  unless  I  have  stated  otherwise  below,  under
"Modifications."
  [If  you do NOT intend to revoke your prior Powers of Attorney, and if
you have granted the same authority in this Power  of  Attorney  as  you
granted  to  another  agent in a prior Power of Attorney, each agent can
act separately unless you indicate under "Modifications" that the agents
with the same authority are to act together.]

(f) GRANT OF AUTHORITY:
  To grant your agent some or all of the authority below, either
      (1) Initial the bracket at each authority you grant, or
      (2) Write or type the letters for each authority you grant on  the
      blank line at (P), and initial the bracket at (P). If you initial
      (P), you do not need to initial the other lines.

  I  grant  authority  to  my  agent(s)  with  respect  to the following
subjects as defined in sections 5-1502A through 5-1502N of the New  York
General Obligations Law:
      (   ) (A) real estate transactions;
      (   ) (B) chattel and goods transactions;
      (   ) (C) bond, share, and commodity transactions;
      (   ) (D) banking transactions;
      (   ) (E) business operating transactions;
      (   ) (F) insurance transactions;
      (   ) (G) estate transactions;
      (   ) (H) claims and litigation;
      (   ) (I) personal and family maintenance. If you grant your agent
                this  authority,  it  will allow the agent to make gifts
                that you customarily have made to individuals, including
                the  agent,  and  charitable  organizations.  The  total
                amount of all such gifts in any one calendar year cannot
                exceed five [hundred] THOUSAND dollars;
      (   ) (J) benefits from governmental programs or civil or military
                service;
      (   ) (K) FINANCIAL  MATTERS  RELATED  TO health care [billing and
                payment matters]; records, reports, and statements;
      (   ) (L) retirement benefit transactions;
      (   ) (M) tax matters;

S. 3923--A                         14

      (   ) (N) all other matters;
      (   ) (O) full  and  unqualified authority to my agent(s) to dele-
                gate any or all of the foregoing powers to any person or
                persons whom my agent(s) select;
      (   ) (P) EACH  of  the  matters  identified  by   the   following
                letters______.
  You need not initial the other lines if you initial line (P).

(g) [MODIFICATIONS: (OPTIONAL)
  In  this  section,  you  may  make  additional  provisions,  including
language to limit or supplement authority granted to your agent.
  However, you cannot use this Modifications section to grant your agent
authority to make gifts or changes to interests in your  property.    If
you wish to grant your agent such authority, you MUST complete the Stat-
utory Gifts Rider.
(h)] CERTAIN GIFT TRANSACTIONS: [STATUTORY GIFTS RIDER] (OPTIONAL)
  In  order to authorize your agent to make gifts in excess of an annual
total of [$500] $5,000 for all gifts described in (I) of  the  grant  of
authority  section  of  this document (under personal and family mainte-
nance), AND/OR TO MAKE CHANGES TO INTEREST IN YOUR  PROPERTY,  you  must
[initial  the statement below and execute a Statutory Gifts Rider at the
same time as this instrument.  Initialing the statement below by  itself
does  not  authorize  your  agent  to make gifts. The preparation of the
Statutory Gifts Rider] EXPRESSLY GRANT THAT AUTHORIZATION IN THE MODIFI-
CATIONS SECTION BELOW. IF YOU WISH TO AUTHORIZE YOUR AGENT TO MAKE GIFTS
TO HIMSELF OR HERSELF, YOU MUST EXPRESSLY GRANT  SUCH  AUTHORIZATION  IN
THE  MODIFICATIONS  SECTION BELOW. GRANTING SUCH AUTHORITY TO YOUR AGENT
GIVES YOUR AGENT THE AUTHORITY TO TAKE ACTIONS WHICH COULD SIGNIFICANTLY
REDUCE YOUR PROPERTY AND/OR CHANGE HOW YOUR PROPERTY IS  DISTRIBUTED  AT
YOUR  DEATH.  YOUR  CHOICE TO GRANT SUCH AUTHORITY should be [supervised
by] DISCUSSED WITH a lawyer.
  (      ) [(SGR)] I grant my agent authority to make gifts  in  accord-
ance  with  the  terms  and  conditions  of  the [Statutory Gifts Rider]
MODIFICATIONS that [supplements]  SUPPLEMENT  this  Statutory  Power  of
Attorney.
  (H) MODIFICATIONS: (OPTIONAL)
  IN  THIS  SECTION,  YOU MAY MAKE ADDITIONAL PROVISIONS, INCLUDING, BUT
NOT LIMITED TO, LANGUAGE TO LIMIT OR  SUPPLEMENT  AUTHORITY  GRANTED  TO
YOUR  AGENT, LANGUAGE TO GRANT YOUR AGENT THE SPECIFIC AUTHORITY TO MAKE
GIFTS TO HIMSELF OR HERSELF, AND/OR LANGUAGE TO  GRANT  YOUR  AGENT  THE
SPECIFIC  AUTHORITY  TO  MAKE  OTHER GIFT TRANSACTIONS AND/OR CHANGES TO
INTERESTS IN YOUR PROPERTY. YOUR AGENT IS ENTITLED TO BE REIMBURSED FROM
YOUR ASSETS FOR REASONABLE EXPENSES INCURRED ON  YOUR  BEHALF.  IN  THIS
SECTION,  YOU  MAY  MAKE  ADDITIONAL  PROVISIONS  IF  YOU ALSO WISH YOUR
AGENT(S) TO BE COMPENSATED FROM YOUR ASSETS  FOR  SERVICES  RENDERED  ON
YOUR BEHALF, AND YOU MAY DEFINE "REASONABLE COMPENSATION."

(i) DESIGNATION OF MONITOR(S): (OPTIONAL)
  If  you  wish  to  appoint monitor(s), initial and fill in the section
below:
  (     ) I wish to designate ______________________, whose  address(es)
is  (are)  ____________________________________________________________,
as monitor(s). Upon the request of  the  monitor(s),  my  agent(s)  must
provide the monitor(s) with a copy of the power of attorney and a record
of  all  transactions  done  or made on my behalf. Third parties holding

S. 3923--A                         15

records of such transactions shall provide the records to the monitor(s)
upon request.

(j) COMPENSATION OF AGENT(S): [(OPTIONAL)]
  Your  agent  is entitled to be reimbursed from your assets for reason-
able expenses incurred on your behalf. If you ALSO wish your agent(s) to
be compensated from your assets for services rendered  on  your  behalf,
[initial the statement below. If you] AND/OR YOU wish to define "reason-
able compensation", you may do so above, under "Modifications"[.
  (   )  My  agent(s)  shall  be entitled to reasonable compensation for
services rendered.]

(k) ACCEPTANCE BY THIRD PARTIES: I agree to indemnify  the  third  party
for  any  claims that may arise against the third party because of reli-
ance on this Power of Attorney. I understand  that  any  termination  of
this Power of Attorney, whether the result of my revocation of the Power
of Attorney or otherwise, is not effective as to a third party until the
third party has actual notice or knowledge of the termination.

(l)  TERMINATION:  This Power of Attorney continues until I revoke it or
it is terminated by my death or other event described in section  5-1511
of the General Obligations Law.
  Section  5-1511 of the General Obligations Law describes the manner in
which you may revoke your Power of Attorney, and the events which termi-
nate the Power of Attorney.

(m) SIGNATURE AND ACKNOWLEDGMENT:
In Witness Whereof I have hereunto signed my name on ___________,20___.

PRINCIPAL signs here: ==>__________________________________________

(acknowledgment)

(n) IMPORTANT INFORMATION FOR THE AGENT:
  When you accept the authority granted under this Power of Attorney,  a
special  legal  relationship  is  created between you and the principal.
This relationship imposes on you legal  responsibilities  that  continue
until  you resign or the Power of Attorney is terminated or revoked. You
must:
  (1) act according to any instructions from the  principal,  or,  where
there are no instructions, in the principal's best interest;
  (2) avoid conflicts that would impair your ability to act in the prin-
cipal's best interest;
  (3)  keep  the  principal's  property  separate  and distinct from any
assets you own or control, unless otherwise permitted by law;
  (4) keep a record [or] OF all [receipts, payments,  and]  transactions
conducted  for the principal OR KEEP ALL RECEIPTS OF PAYMENTS AND TRANS-
ACTIONS CONDUCTED FOR THE PRINCIPAL; and
  (5) disclose your identity as an agent whenever you act for the  prin-
cipal  by  writing or printing the principal's name and signing your own
name as "agent" in either of the following manners:  (Principal's  Name)
by  (Your Signature) as Agent, or (your signature) as Agent for (Princi-
pal's Name).
  You may not use the principal's assets to benefit yourself  or  anyone
else  or  make gifts to yourself or anyone else unless the principal has
specifically granted you that authority in THE MODIFICATIONS SECTION  OF

S. 3923--A                         16

this  document[,  which  is either a Statutory Gifts Rider attached to a
Statutory Short Form Power of Attorney]  or  a  Non-Statutory  Power  of
Attorney.  If  you  have  that  authority, you must act according to any
instructions  of the principal or, where there are no such instructions,
in the principal's best interest.  You  may  resign  by  giving  written
notice to the principal and to any co-agent, successor agent, monitor if
one  has been named in this document, or the principal's guardian if one
has been appointed. If there is anything about  this  document  or  your
responsibilities  that  you  do  not  understand,  you should seek legal
advice.
  Liability of agent:
  The meaning of the authority given to you is  defined  in  New  York's
General  Obligations  Law,  Article 5, Title 15. If it is found that you
have violated the law or acted outside the authority granted to  you  in
the  Power  of  Attorney,  you  may  be  liable  under  the law for your
violation.

(o) AGENT'S SIGNATURE AND ACKNOWLEDGMENT OF APPOINTMENT:
  It is not required that the principal and the  agent(s)  sign  at  the
same time, nor that multiple agents sign at the same time.

I/we, ___________________________________________, have read the forego-
ing  Power  of Attorney. I am/we are the person(s) identified therein as
agent(s) for the principal named therein.

I/we acknowledge my/our legal responsibilities.
IN WITNESS WHEREOF I HAVE HEREUNTO SIGNED MY  NAME  ON  ________________
20_____.

Agent(s) sign(s) here:==>__________________________________________

(acknowledgment(s))

(p) SUCCESSOR AGENT'S SIGNATURE AND ACKNOWLEDGMENT OF APPOINTMENT:
  It  is  not required that the principal and the SUCCESSOR agent(s), if
any, sign at the same time, nor that multiple SUCCESSOR agents  sign  at
the  same  time. Furthermore, successor agents can not use this power of
attorney unless the agent(s) designated above is/are unable or unwilling
to serve.

I/we, ___________________________________________, have read the forego-
ing Power of Attorney. I am/we are the person(s) identified  therein  as
SUCCESSOR agent(s) for the principal named therein.
IN  WITNESS  WHEREOF  I HAVE HEREUNTO SIGNED MY NAME ON ________________
20_____.

Successor Agent(s) sign(s) here:==>______________________________________

(acknowledgment(s))"
  § 18. Section 5-1514 of the general obligations law is REPEALED.
  § 19. This act shall take effect on  the  one  hundred  eightieth  day
after  it  shall  have  become a law, provided, that any statutory short
form power of attorney and any statutory gifts rider executed by a prin-
cipal and valid at the time executed  by  such  principal  shall  remain
valid,  as  will  any  revocation  of a prior power of attorney that was
delivered to an agent prior to the effective date of this act.