Assembly Bill A10234

2021-2022 Legislative Session

Provides clarification for the creation of valid statutory short form and other powers of attorney

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S9209 - Passed Assembly


  • 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

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2021-A10234 (ACTIVE) - Details

See Senate Version of this Bill:
S9209
Law Section:
General Obligations Law
Laws Affected:
Amd §5-1501B, Gen Ob L

2021-A10234 (ACTIVE) - Summary

Provides clarification for the creation of valid statutory short form and other powers of attorney by clarifying when a principal and agent sign a power of attorney and its effectiveness.

2021-A10234 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10234
 
                           I N  A S S E M B L Y
 
                               May 11, 2022
                                ___________
 
 Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Weinstein)
   -- read once and referred to the Committee on Judiciary
 
 AN ACT to amend the general obligations law, in  relation  to  providing
   clarification for the creation of valid statutory short form and other
   powers of attorney
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 5-1501B of the general obligations law  is  amended
 by adding a new subdivision 5 to read as follows:
   5. (A) NOTWITHSTANDING ANY OTHER PROVISION OF THIS SECTION, ANY STATU-
 TORY  SHORT FORM POWER OF ATTORNEY AND ANY STATUTORY GIFT RIDER EXECUTED
 BY A PRINCIPAL IN THE MANNER CONFORMING WITH THE LAW IN  EFFECT  AT  THE
 TIME  SHALL  REMAIN  VALID AND ENFORCEABLE PURSUANT TO SECTION 5-1504 OF
 THIS TITLE, EVEN IF SIGNED BY AN AGENT AT A LATER  DATE,  INCLUDING  BUT
 NOT  LIMITED  TO, BEING SIGNED ON OR AFTER JUNE THIRTEENTH, TWO THOUSAND
 TWENTY-ONE.
   (B) ANY REVOCATION OF A POWER OF ATTORNEY THAT  WAS  DELIVERED  TO  AN
 AGENT SHALL REMAIN IN EFFECT PURSUANT TO THIS SUBDIVISION.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15404-01-2



              

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