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N.Y. Gen. Oblig. Law § 5-1503

Modifications of the statutory short form power of attorney

Redline — January 1, 2015 → current.View current text →
Current — January 1, 2022
As of January 1, 2015
§ 5-1503. Modifications of the statutory short form power of attorney\nand of the statutory gifts rider. A power of attorney which satisfies\nthe requirements of paragraphs (a), (b) and (c) of subdivision one of\nsection 5-1501B and section 5-1513 of this title is not prevented from\nbeing a "statutory short form power of attorney", and a document which\nsatisfies the requirements of section 5-1514 of this title is not\nprevented from being a "statutory gifts rider" as either of these terms\nis used in the sections of this title, by the fact that it also contains\nadditional language at the section labeled "modifications" which:\n 1. Eliminates from the statutory short form power of attorney or from\nthe statutory gifts rider one or more of the powers enumerated in one or\nmore of the constructional sections of this title with respect to a\nsubdivision of the statutory short form power of attorney or of the\nstatutory gifts rider, affirmatively chosen by the principal; or\n 2. Supplements one or more of the powers enumerated in one or more of\nthe constructional sections in this title with respect to a subdivision\nof the statutory short form power of attorney or of the statutory gifts\nrider, affirmatively chosen by the principal, by specifically listing\nadditional powers of the agent; or\n 3. Makes some additional provision which is not inconsistent with the\nother provisions of the statutory short form power of attorney or of the\nstatutory gifts rider, including a provision revoking one or more powers\nof attorney previously executed by the principal.\n
§ 5-1503. Modifications of the statutory short form power of attorney.\nA power of attorney which satisfies the requirements of paragraphs (a),\n(b) and (c) of subdivision one of section 5-1501B and section 5-1513 of\nthis title is not prevented from being a "statutory short form power of\nattorney", by the fact that it also contains additional language at the\nsection labeled "modifications" which:\n 1. Eliminates from the statutory short form power of attorney one or\nmore of the powers enumerated in one or more of the constructional\nsections of this title with respect to a subdivision of the statutory\nshort form power of attorney, affirmatively chosen by the principal; or\n 2. Supplements one or more of the powers enumerated in one or more of\nthe constructional sections in this title with respect to a subdivision\nof the statutory short form power of attorney, affirmatively chosen by\nthe principal, by specifically listing additional powers of the agent;\nor\n 3. Makes some additional provision which is not inconsistent with the\nother provisions of the statutory short form power of attorney,\nincluding a provision revoking one or more powers of attorney previously\nexecuted by the principal.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.