N.Y. General Obligations Law § 5-1501c: Powers of attorney excluded from this title

§ 5-1501C. Powers of attorney excluded from this title. The provisions

of this title shall not apply to the following powers of attorney:

1. a power of attorney given primarily for a business or commercial

purpose, including without limitation:

(a) a power to the extent it is coupled with an interest in the

subject of the power;

(b) a power given to or for the benefit of a creditor in connection

with a loan or other credit transaction;

(c) a power given to facilitate transfer or disposition of one or more

specific stocks, bonds or other assets, whether real, personal, tangible

or intangible;

2. a proxy or other delegation to exercise voting rights or management

rights with respect to an entity;

3. a power created on a form prescribed by a government or

governmental subdivision, agency or instrumentality for a governmental

purpose;

4. a power authorizing a third party to prepare, execute, deliver,

submit and/or file a document or instrument with a government or

governmental subdivision, agency or instrumentality or other third

party;

5. a power authorizing a financial institution or employee of a

financial institution to take action relating to an account in which the

financial institution holds cash, securities, commodities or other

financial assets on behalf of the person giving the power;

6. a power given by an individual who is or is seeking to become a

director, officer, shareholder, employee, partner, limited partner,

member, unit owner or manager of a corporation, partnership, limited

liability company, condominium or other legal or commercial entity in

his or her capacity as such;

7. a power contained in a partnership agreement, limited liability

company operating agreement, declaration of trust, declaration of

condominium, condominium bylaws, condominium offering plan or other

agreement or instrument governing the internal affairs of an entity

authorizing a director, officer, shareholder, employee, partner, limited

partner, member, unit owner, manager or other person to take lawful

action relating to such entity;

8. a power given to a condominium managing agent to take action in

connection with the use, management and operation of a condominium unit;

9. a power given to a licensed real estate broker to take action in

connection with a listing of real property, mortgage loan, lease or

management agreement;

10. a power authorizing acceptance of service of process on behalf of

the principal; and

11. a power created pursuant to authorization provided by a federal or

state statute, other than this title, that specifically contemplates

creation of the power, including without limitation a power to make

health care decisions or decisions involving the disposition of remains.

Nothing in this section shall be deemed to prohibit use of a statutory

short form power of attorney or a nonstatutory power of attorney in

connection with any of the transactions described in this section.