Governor Signs Amendment to New York Power of Attorney Statutory Form
By EsqSocial Corporation 06/01/21
On December 15, 2020, Governor Cuomo signed into law a comprehensive amendment to General Obligations Law ยงยง 15-1501, et seq., the statute setting forth the requirements for power of attorney forms. The new legislation greatly simplifies and improves the statutory power of attorney form, and imposes new penalties for banks and financial institutions for refusing to enforce the forms without cause. The existing version of the statute proved to be very complex, and nearly impossible to interpret...
By: Harris Beach PLLC