New York State Assembly

 
•  Summary 
 
•  Actions 
 
•  Floor Votes 
 
•  Memo 
 
•  Text 

S07077 Summary:

S07077 Actions:

S07077 Floor Votes:

S07077 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         7077--A
            Cal. No. 426
 
                    IN SENATE
 
                                     April 23, 2014
                                       ___________
 
        Introduced  by Sen. BONACIC -- (at request of the Office of Court Admin-
          istration) -- read twice and ordered printed, and when printed  to  be
          committed  to  the  Committee  on Judiciary -- reported favorably from
          said committee, ordered to first and second report, amended on  second
          report,  ordered  to  a third reading, and to be reprinted as amended,

          retaining its place in the order of third reading
 
        AN ACT to amend the estates, powers  and  trusts  law,  in  relation  to
          powers of attorney in relation to decedents' estates required to be in
          writing and recorded
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 13-2.3 of the estates, powers  and  trusts  law  is
     2  amended by adding a new paragraph (e) to read as follows:
     3    (e)  Notwithstanding  the  provisions of any other statute or rule, no
     4  instrument containing a delegation of powers,  assignment  of  interest,
     5  fee  arrangement,  or  any  instrument  of  like  import created for the
     6  purpose of participating on behalf of an individual in  any  application

     7  seeking  the  recovery  of property pursuant to section fourteen hundred
     8  sixteen of the abandoned property law or section thirteen hundred ten of
     9  the surrogate's court procedure act, nor any power of attorney, shall be
    10  accepted for filing or recording by the surrogate's court of  a  partic-
    11  ular  county  unless  the  amount  at issue is in excess of one thousand
    12  dollars or a fiduciary, as that term is defined by  subdivision  twenty-
    13  one of section one hundred three of the surrogate's court procedure act,
    14  has  been  appointed, or a proceeding for the appointment of a fiduciary
    15  is pending in such court.  The  provisions  of  paragraph  (b)  of  this
    16  section shall apply to all instruments eligible for filing and recording
    17  hereunder.

    18    § 2. This act shall take effect immediately.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13631-02-4