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S09209 Summary:

S09209 Actions:

S09209 Committee Votes:

S09209 Floor Votes:

S09209 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9209
 
                    IN SENATE
 
                                      May 12, 2022
                                       ___________
 
        Introduced  by  Sen. HOYLMAN -- 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  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:
 
     1    Section 1. Section 5-1501B of the general obligations law  is  amended
     2  by adding a new subdivision 5 to read as follows:
     3    5. (a) Notwithstanding any other provision of this section, any statu-
     4  tory  short form power of attorney and any statutory gift rider executed
     5  by a principal in the manner conforming with the law in  effect  at  the
     6  time  shall  remain  valid and enforceable pursuant to section 5-1504 of
     7  this title, even if signed by an agent at a later  date,  including  but
     8  not  limited  to, being signed on or after June thirteenth, two thousand
     9  twenty-one.
    10    (b) Any revocation of a power of attorney that  was  delivered  to  an
    11  agent shall remain in effect pursuant to this subdivision.
    12    § 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