N.Y. General Obligations Law § 5-1501b: Creation of a valid power of attorney; when effective

§ 5-1501B. Creation of a valid power of attorney; when effective. 1.

To be valid, except as otherwise provided in section 5-1512 of this

title, a statutory short form power of attorney, or a non-statutory

power of attorney, executed in this state by a principal, must:

(a) Be typed or printed using letters which are legible or of clear

type no less than twelve point in size, or, if in writing, a reasonable

equivalent thereof.

(b) Be signed, initialed and dated by a principal with capacity, or in

the name of such principal by another person, other than a person

designated as the principal's agent or successor agent, in the

principal's presence and at the principal's direction, in either case

with the signature of the person signing duly acknowledged in the manner

prescribed for the acknowledgment of a conveyance of real property and

witnessed by two persons who are not named in the instrument as agents

or as permissible recipients of gifts, in the manner described in

subparagraph two of paragraph (a) of section 3-2.1 of the estate, powers

and trusts law in the presence of the principal. The person who takes

the acknowledgement under this paragraph may also serve as one of the

witnesses. When a person signs at the direction of a principal he or she

shall sign by writing or printing the principal's name, and printing and

signing his or her own name.

(c) Be signed and dated by any agent acting on behalf of the principal

with the signature of the agent duly acknowledged in the manner

prescribed for the acknowledgment of a conveyance of real property. A

power of attorney executed pursuant to this section is not invalid

solely because there has been a lapse of time between the date of

acknowledgment of the signature of the principal and the date or dates

of acknowledgment of the signature or signatures of any agent or agents

or successor agent or successor agents authorized to act on behalf of

the principal or because the principal became incapacitated during any

such lapse of time.

(d) Substantially conform to the wording of the:

(1) "Caution to the Principal" in paragraph (a) of subdivision one of

section 5-1513 of this title; and

(2) "Important Information for the Agent" in paragraph (n) of

subdivision one of section 5-1513 of this title.

2. Insubstantial variation in the wording of the "Caution to the

Principal" of paragraph (a) of subdivision one of section 5-1513 of this

title or of the "Important Information for the Agent" of paragraph (n)

of subdivision one of section 5-1513 of this title shall not prevent a

power of attorney from being deemed a statutory short form power of

attorney or a non-statutory power of attorney.

3. (a) The date on which an agent's signature is acknowledged is the

effective date of the power of attorney as to that agent; provided,

however, that if two or more agents are designated to act together, the

power of attorney takes effect when all the agents so designated have

signed such power of attorney with their signatures acknowledged.

(b) If the power of attorney states that it takes effect upon the

occurrence of a date or a contingency specified in the document, then

the power of attorney takes effect only when the date or contingency

identified in the document has occurred, and the signature of the agent

acting on behalf of the principal has been acknowledged. If the document

requires that a person or persons named or otherwise identified therein

declare, in writing, that the identified contingency has occurred, such

a declaration satisfies the requirement of this paragraph without regard

to whether the specified contingency has occurred.

4. Nothing of this title shall be construed to bar the use or validity

of any other or different form of power of attorney desired by a person

other than a principal as the term principal is defined in section

5-1501 of this title.

5. (a) Notwithstanding any other provision of this section, any

statutory short form power of attorney and any statutory gift rider

executed by a principal in the manner conforming with the law in effect

at the time shall remain valid and enforceable pursuant to section

5-1504 of this title, even if signed by an agent at a later date,

including but not limited to, being signed on or after June thirteenth,

two thousand twenty-one.

(b) Any revocation of a power of attorney that was delivered to an

agent shall remain in effect pursuant to this subdivision.

6. Nothing in this title shall prohibit the execution of a valid power

of attorney for the purpose of transferring a salvage certificate of

title and the execution of an odometer and damage disclosure statement

in connection with such title by electronic means pursuant to article

three of the state technology law.