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NY A10234

Bill

Official Source

Status

Introduced

5/11/2022

Primary Sponsor

Helene Weinstein

Click for details

Origin

Assembly

2021-2022 General Assembly

AI Summary

  • Amends General Obligations Law Section 5-1501B to clarify that statutory short form powers of attorney and statutory gift riders remain valid even if signed by an agent at a later date than the principal's execution
  • Provides retroactive validity to powers of attorney signed by principals in compliance with the law at the time of execution, including those signed on or after June 13, 2021
  • Confirms that any revocation of a power of attorney previously delivered to an agent remains in effect under this provision
  • Takes effect immediately upon enactment

Legislative Description

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.

Last Action

substituted by s9209

6/3/2022

Committee Referrals

Rules6/2/2022
Ways and Means5/31/2022
Judiciary5/11/2022

Full Bill Text

No bill text available