The most significant change to state law governing powers of attorney in almost a decade.
On Dec. 15, New York Governor Andrew Cuomo signed a bill representing the most significant change to the New York law governing powers of attorney (POA) in almost a decade.
The new law seeks to increase the acceptance and use of POAs by making the form more user-friendly, expanding the definition of “Statutory Short Form Power of Attorney,” protecting third parties who reasonably rely on the validity of a POA, providing a clear procedure for accepting or rejecting a POA and creating a remedy against those who unreasonably reject a valid POA.
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