Bill Text: NY A05630 | 2019-2020 | General Assembly | Introduced


Bill Title: Reforms the statutory short form and other powers of attorney for purposes of financial and estate planning.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Engrossed) 2019-06-20 - REFERRED TO RULES [A05630 Detail]

Download: New_York-2019-A05630-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                          5630
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 14, 2019
                                       ___________
        Introduced  by  M.  of  A. WEINSTEIN, LUPARDO, ZEBROWSKI, TAYLOR -- read
          once and referred to the Committee on Judiciary
        AN ACT to amend the general obligations law, in  relation  to  reforming
          the  statutory short form and other powers of attorney for purposes of
          financial and estate planning; and to  repeal  certain  provisions  of
          such law relating to statutory gift riders
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph (j) of subdivision 2 of  section  5-1501  of  the
     2  general  obligations law, as amended by chapter 340 of the laws of 2010,
     3  is amended to read as follows:
     4    (j) "Power of attorney" means a written document, other than  a  docu-
     5  ment  referred to in section 5-1501C of this title, by which a principal
     6  with capacity designates an agent to  act  on  his  or  her  behalf  and
     7  includes  both a statutory short form power of attorney and a non-statu-
     8  tory power of attorney.
     9    § 2. Paragraph (n) of subdivision 2 of section 5-1501 of  the  general
    10  obligations  law is REPEALED, and paragraphs (o), (p) and (q) are relet-
    11  tered paragraphs (n), (o) and (p).
    12    § 3. Paragraph (n) of subdivision 2 of section 5-1501 of  the  general
    13  obligations  law,  as  amended by chapter 340 of the laws of 2010 and as
    14  relettered by section two of this act, is amended to read as follows:
    15    (n) "Statutory short form power of attorney" means a power of attorney
    16  that meets the requirements of paragraphs (a), (b) and (c)  of  subdivi-
    17  sion one of section 5-1501B of this title, and that [contains the exact]
    18  substantially  conforms  to the wording of the form set forth in section
    19  5-1513 of this title; provided however, that any  section  indicated  as
    20  "Optional"  that  is  not  used may be omitted and replaced by the words
    21  "Intentionally Omitted". [A mistake in wording,  such  as  in  spelling,
    22  punctuation  or  formatting,  or  the  use  of bold or italic type,] Any
    23  insubstantial variations in the form shall not prevent a power of attor-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00875-01-9

        A. 5630                             2
     1  ney from being deemed a statutory short form power of attorney, but  the
     2  wording  of  the  form  set  forth in section 5-1513 of this title shall
     3  govern. The use of the form set forth in section 5-1513 of this title is
     4  lawful  and  when  used, it shall be construed as a statutory short form
     5  power of attorney. A statutory short form power of attorney may be  used
     6  to  grant authority provided in sections 5-1502A through 5-1502N of this
     7  title. A "statutory short form power of attorney" may contain  modifica-
     8  tions  or additions as provided in section 5-1503 of this title[, but in
     9  no event may it be modified to grant any authority provided  in  section
    10  5-1514 of this title. If the authority (SGR) on the statutory short form
    11  is  initialed by the principal, the statutory short form power of attor-
    12  ney must be executed in the manner provided in section 5-1501B  of  this
    13  title,  simultaneously with the statutory gifts rider. A statutory short
    14  form power of attorney and a statutory gifts rider which supplements  it
    15  must be read together as a single instrument].
    16    §  4.  Subdivisions  1  and  2 of section 5-1501B of the general obli-
    17  gations law, as added by chapter 644 of the laws of  2008,  the  opening
    18  paragraph  and  paragraphs (b) and (c) of subdivision 1, and the opening
    19  paragraph and paragraph (a) of subdivision 2 as amended by  chapter  340
    20  of the laws of 2010, are amended to read as follows:
    21    1. To be valid, except as otherwise provided in section 5-1512 of this
    22  title,  a  statutory  short  form  power of attorney, or a non-statutory
    23  power of attorney, executed in this state by a principal, must:
    24    (a) Be typed or printed using letters which are legible  or  of  clear
    25  type  no less than twelve point in size, or, if in writing, a reasonable
    26  equivalent thereof.
    27    (b) Be signed, initialed and dated by a principal with capacity, or in
    28  the name of such principal by another person, other than a person desig-
    29  nated as the principal's agent or successor agent,  in  the  principal's
    30  presence  and  at  the  principal's  direction,  in either case with the
    31  signature of the [principal] person signing  duly  acknowledged  in  the
    32  manner prescribed for the acknowledgment of a conveyance of real proper-
    33  ty  in the presence of the principal.  When a person signs at the direc-
    34  tion of a principal he or she shall sign  by  writing  or  printing  the
    35  principal's name, and printing and signing his or her own name.
    36    (c) Be signed and dated by any agent acting on behalf of the principal
    37  with  the  signature  of  the  agent  duly  acknowledged  in  the manner
    38  prescribed for the acknowledgment of a conveyance of  real  property.  A
    39  power of attorney executed pursuant to this section is not invalid sole-
    40  ly  because  there has been a lapse of time between the date of acknowl-
    41  edgment of the signature of the principal  and  the  date  or  dates  of
    42  acknowledgment  of the signature or signatures of any agent or agents or
    43  successor agent or successor agents authorized to act on behalf  of  the
    44  principal  or because the principal became incapacitated during any such
    45  lapse of time.
    46    (d) [Contain the exact] Substantially conform to the wording of the:
    47    (1) "Caution to the Principal" in paragraph (a) of subdivision one  of
    48  section 5-1513 of this title; and
    49    (2) "Important Information for the Agent" in paragraph (n) of subdivi-
    50  sion one of section 5-1513 of this title.
    51    2.  [In  addition  to  the  requirements  of  subdivision  one of this
    52  section, to be valid for the purpose of authorizing the  agent  to  make
    53  certain gift transactions described in section 5-1514 of this title:
    54    (a) a statutory short form power of attorney must contain the authori-
    55  ty (SGR) initialed by the principal and be accompanied by a valid statu-
    56  tory gifts rider; and

        A. 5630                             3

     1    (b) a non-statutory power of attorney must be executed pursuant to the
     2  requirements  of  paragraph (b) of subdivision nine of section 5-1514 of
     3  this title.] Insubstantial variation in the wording of the  "Caution  to
     4  the  Principal" of paragraph (a) of subdivision one of section 5-1513 of
     5  this  title or of the "Important Information for the Agent" of paragraph
     6  (n) of subdivision one of section 5-1513 of this title shall not prevent
     7  a power of attorney from being deemed a statutory short  form  power  of
     8  attorney or a non-statutory power of attorney.
     9    §  5.  Subdivisions  2  and  9 of section 5-1502A of the general obli-
    10  gations law, as amended by chapter 340 of the laws of 2010, are  amended
    11  to read as follows:
    12    2.  To  sell, to exchange, to convey either with or without covenants,
    13  to quit-claim, to release, to surrender, to mortgage,  to  incumber,  to
    14  partition or to consent to the partitioning, to create, modify or revoke
    15  a  trust  [unless  such  creation,  modification or revocation is a gift
    16  transaction governed by section 5-1514 of this title,] to grant  options
    17  concerning,  to  lease  or  to  sublet,  or otherwise to dispose of, any
    18  estate or interest in land;
    19    9. To execute, to acknowledge,  to  seal  and  to  deliver  any  deed,
    20  creation,  modification  or revocation of a trust [unless such creation,
    21  modification or revocation is a gift  transaction  governed  by  section
    22  5-1514  of  this title], mortgage, lease, notice, check or other instru-
    23  ment which the agent may think useful for the accomplishment of  any  of
    24  the purposes enumerated in this section;
    25    §  6.  Subdivisions  2  and  7 of section 5-1502B of the general obli-
    26  gations law, as amended by chapter 340 of the laws of 2010, are  amended
    27  to read as follows:
    28    2.  To  sell, to exchange, to convey either with or without covenants,
    29  to release, to surrender,  to  mortgage,  to  incumber,  to  pledge,  to
    30  hypothecate,  to  pawn, to create, modify or revoke a trust [unless such
    31  creation, modification or revocation is a gift transaction  governed  by
    32  section  5-1514  of this title] to grant options concerning, to lease or
    33  to sublet to others, or otherwise to dispose of any chattel or goods  or
    34  any interest in any chattel or goods;
    35    7.  To execute, to acknowledge, to seal and to deliver any conveyance,
    36  mortgage, lease, creation, revocation or modification of a trust [unless
    37  such creation, modification or revocation is a gift transaction governed
    38  by section 5-1514 of this title],  notice,  check  or  other  instrument
    39  which  the  agent  may think useful for the accomplishment of any of the
    40  purposes enumerated in this section;
    41    § 7. Subdivisions 2 and 9 of section  5-1502C  of  the  general  obli-
    42  gations  law, as amended by chapter 340 of the laws of 2010, are amended
    43  to read as follows:
    44    2. To sell (including short sales), to exchange,  to  transfer  either
    45  with or without a guaranty, to release, to surrender, to hypothecate, to
    46  pledge,  to  create,  modify  or  revoke  a trust [unless such creation,
    47  modification or revocation is a gift  transaction  governed  by  section
    48  5-1514  of  this  title,] to grant options concerning, to loan, to trade
    49  in, or otherwise to dispose of any bond, share,  instrument  of  similar
    50  character, commodity interest or any instrument with respect thereto;
    51    9.  To  execute,  to  acknowledge, to seal and to deliver any consent,
    52  agreement, authorization, creation,  modification  or  revocation  of  a
    53  trust  [unless such creation, declaration, modification or revocation is
    54  a gift transaction governed by section 5-1514 of  this  title],  assign-
    55  ment,  notice,  waiver  of  notice, check, or other instrument which the

        A. 5630                             4
     1  agent may think useful for the accomplishment of  any  of  the  purposes
     2  enumerated in this section;
     3    §  8. Subdivision 1 of section 5-1502D of the general obligations law,
     4  as amended by chapter 644 of the laws of 2008, paragraphs (a) and (b) as
     5  amended by chapter 340 of the laws  of  2010,  is  amended  to  read  as
     6  follows:
     7    1.  To  continue,  to modify, to terminate and to make deposits to and
     8  withdrawals from any deposit account, including any joint  account  with
     9  the agent or totten trust for the benefit of the agent, or other banking
    10  arrangement  made by or on behalf of the principal prior to the creation
    11  of the agency, provided, however, that:
    12    (a) with respect to joint accounts existing at  the  creation  of  the
    13  agency,  the  authority  granted  hereby  shall not include the power to
    14  change the title of the account by the addition of a new joint tenant or
    15  the deletion of an existing joint tenant, unless the authority  to  make
    16  such  changes  is [conveyed in a statutory gifts rider to] stated other-
    17  wise in the "Modifications" section of a statutory short form  power  of
    18  attorney or in a non-statutory power of attorney signed and dated by the
    19  principal  with  the signature of the principal duly acknowledged in the
    20  manner prescribed for the acknowledgement of a conveyance of real  prop-
    21  erty,  and  which is executed pursuant to the requirements of [paragraph
    22  (b) of subdivision nine of] section [5-1514] 5-1501B of this title, and
    23    (b) with respect to totten trust accounts existing at the creation  of
    24  the  agency, the authority granted hereby shall not include the power to
    25  add, delete, or otherwise change the  designation  of  beneficiaries  in
    26  effect  for  any  such accounts, unless the authority to make such addi-
    27  tions, deletions or changes is [conveyed in a statutory gifts rider  to]
    28  stated  otherwise  in  the  "Modifications" section of a statutory short
    29  form power of attorney or in a non-statutory power  of  attorney  signed
    30  and  dated  by  the  principal  with the signature of the principal duly
    31  acknowledged in the  manner  prescribed  for  the  acknowledgment  of  a
    32  conveyance  of  real  property,  and  which  is executed pursuant to the
    33  requirements of [paragraph (b) of subdivision nine of] section  [5-1514]
    34  5-1501B of this title.
    35    §  9.  Subdivisions  1  and  3 of section 5-1502F of the general obli-
    36  gations law, as amended by chapter 340 of the laws of 2010, are  amended
    37  to read as follows:
    38    1.  To  continue,  to  pay the premium or assessment on, to modify, to
    39  rescind, to release or to terminate  any  contract  of  life,  accident,
    40  health,  disability  or  liability  insurance or any combination of such
    41  insurance procured by or  on  behalf  of  the  principal  prior  to  the
    42  creation  of  the agency which insures either the principal or any other
    43  person, without regard to whether the principal is or is not a benefici-
    44  ary thereunder;  provided,  however,  with  respect  to  life  insurance
    45  contracts  existing at the creation of the agency, the authority granted
    46  hereby shall not include the power to add, delete  or  otherwise  change
    47  the designation of beneficiaries in effect for any such contract, unless
    48  the  authority to make such additions, deletions or changes is [conveyed
    49  in a statutory gifts rider to] stated otherwise in  the  "Modifications"
    50  section of a statutory short form power of attorney or in a non-statuto-
    51  ry  power  of attorney signed and dated by the principal with the signa-
    52  ture of the principal duly acknowledged in the manner prescribed for the
    53  acknowledgment of a conveyance of real property, and which  is  executed
    54  pursuant  to  the requirements of [paragraph (b) of subdivision nine of]
    55  section [5-1514] 5-1501B of this title;

        A. 5630                             5
     1    3. To apply for and to receive any available loan on the  security  of
     2  the  contract  of insurance, whether for the payment of a premium or for
     3  the procuring of cash, to surrender and thereupon to  receive  the  cash
     4  surrender  value,  to  exercise an election as to beneficiary or mode of
     5  payment,  to  change  the manner of paying premiums, and to change or to
     6  convert the type of insurance contract, with respect to any contract  of
     7  life,  accident,  health,  disability or liability insurance as to which
     8  the principal has, or claims to have, any one  or  more  of  the  powers
     9  described in this section; provided, however, that the authority granted
    10  hereby  shall  not  include the power to add, delete or otherwise change
    11  the designation of beneficiaries in effect for any such contract, unless
    12  the authority to make such additions, deletions or changes is  [conveyed
    13  in  a  statutory gifts rider to] stated otherwise in the "Modifications"
    14  section of a statutory short form power of attorney or in a non-statuto-
    15  ry power of attorney signed and dated by the principal with  the  signa-
    16  ture of the principal duly acknowledged in the manner prescribed for the
    17  acknowledgment  of  a conveyance of real property, and which is executed
    18  pursuant to the requirements of [paragraph (b) of subdivision  nine  of]
    19  section [5-1514] 5-1501B of this title;
    20    §  10.  Subdivision  14  of section 5-1502I of the general obligations
    21  law, as amended by chapter 340 of the laws of 2010, is amended  to  read
    22  as follows:
    23    14.  To continue gifts that the principal customarily made to individ-
    24  uals and charitable organizations prior to the creation of  the  agency,
    25  provided  that  in any one calendar year all such gifts shall not exceed
    26  five [hundred] thousand dollars in the aggregate; and
    27    § 11. The section heading, opening  paragraph  and  subdivision  1  of
    28  section  5-1502K  of  the general obligations law, as amended by chapter
    29  644 of the laws of 2008, are amended to read as follows:
    30    Construction--financial matters related to health  care  [billing  and
    31  payment  matters; records, reports and statements]. In a statutory short
    32  form power of attorney, the language conferring general  authority  with
    33  respect  to  "financial  matters  related  to  health  care [billing and
    34  payment matters; records, reports and statements]," or  in  a  statutory
    35  short  form  power  of attorney properly executed in accordance with the
    36  laws in effect at the time of its  execution,  the  language  conferring
    37  authority  with  respect  to  "records, reports and statements," must be
    38  construed to mean that the principal authorizes the agent:
    39    1. [To access records relating to the provision of health care and  to
    40  make  decisions  relating to the past, present or future payment for the
    41  provision of health care consented to by or on behalf of  the  principal
    42  or  the  principal's health care agent authorized under state law. In so
    43  doing the agent is acting as  the  principal's  personal  representative
    44  pursuant  to  sections  1171 through 1179 of the Social Security Act, as
    45  added by sections 262 and 264 of  Public  Law  104-191,  and  applicable
    46  regulations.  This  authority  shall  not  include authorization for the
    47  agent to make other medical or health care decisions for the  principal]
    48  To  be  responsible  for  financial  matters relating to the principal's
    49  health care, including, but not limited  to,  benefit  entitlements  and
    50  payment  obligations,  and  in  so doing, notwithstanding any law to the
    51  contrary, to receive from "health care providers"  and  "health  plans,"
    52  information,  including,  but not limited to, "protected health informa-
    53  tion" as defined in federal and state law,  rules  and  regulations,  in
    54  order  to  ascertain the benefits to which the principal is entitled and
    55  to determine the legitimacy and accuracy  of  charges  for  health  care
    56  provided  to  the principal; to obtain for the principal the health care

        A. 5630                             6
     1  benefits to which the principal is entitled;  to  meet  the  principal's
     2  financial  obligations,  and  pay  bills  due and owing, for health care
     3  provided to the principal; and to represent the principal, and to act as
     4  the  principal's  personal  representative,  with  respect  to financial
     5  matters pertaining to the principal's health  care.  This  authority  is
     6  limited  to health care financial matters and shall not include authori-
     7  zation for the agent to make health care decisions for the principal;
     8    § 12. Subdivisions 2 and 4 of section 5-1502L  of  the  general  obli-
     9  gations  law, as amended by chapter 340 of the laws of 2010, are amended
    10  to read as follows:
    11    2. To  make  investment  directions,  to  select  and  change  payment
    12  options,  and  to  exercise  any  other  election for the principal with
    13  regard to any retirement benefit or plan in which the principal  has  an
    14  interest, provided, however, that the authority granted hereby shall not
    15  include  the  authority  to  add, delete, or otherwise change the desig-
    16  nation of beneficiaries in effect for any  such  retirement  benefit  or
    17  plan,  unless the authority to make such additions, deletions or changes
    18  is [conveyed in a statutory gifts rider  to]  stated  otherwise  in  the
    19  "Modifications"  section  of a statutory short form power of attorney or
    20  in a non-statutory power of attorney signed and dated by  the  principal
    21  with  the  signature  of  the  principal duly acknowledged in the manner
    22  prescribed for the acknowledgment of a conveyance of real property,  and
    23  which  is  executed  pursuant  to  the requirements of [paragraph (b) of
    24  subdivision nine of] section [5-1514] 5-1501B of this title;
    25    4. To prepare, execute and deliver any application,  agreement,  trust
    26  agreement [unless such trust agreement is a gift transaction governed by
    27  section  5-1514 of this title], authorization, check or other instrument
    28  or document which may be required under  the  terms  of  any  retirement
    29  benefit  or plan in which the principal has an interest or by the admin-
    30  istrator thereof, or which the agent deems useful for the accomplishment
    31  of any of the purposes enumerated in this section;
    32    § 13. Section 5-1503 of the general obligations  law,  as  amended  by
    33  chapter 340 of the laws of 2010, is amended to read as follows:
    34    § 5-1503. Modifications  of the statutory short form power of attorney
    35  [and of the statutory gifts rider]. A power of attorney which  satisfies
    36  the  requirements  of  paragraphs (a), (b) and (c) of subdivision one of
    37  section 5-1501B and section 5-1513 of this title is not  prevented  from
    38  being  a "statutory short form power of attorney", [and a document which
    39  satisfies the requirements of  section  5-1514  of  this  title  is  not
    40  prevented  from being a "statutory gifts rider" as either of these terms
    41  is used in the sections of  this  title,]  by  the  fact  that  it  also
    42  contains  additional  language  at  the  section labeled "modifications"
    43  which:
    44    1. Eliminates from the statutory short form power of attorney [or from
    45  the statutory gifts rider] one or more of the powers enumerated  in  one
    46  or  more  of the constructional sections of this title with respect to a
    47  subdivision of the statutory short form power of  attorney  [or  of  the
    48  statutory gifts rider], affirmatively chosen by the principal; or
    49    2.  Supplements one or more of the powers enumerated in one or more of
    50  the constructional sections in this title with respect to a  subdivision
    51  of the statutory short form power of attorney [or of the statutory gifts
    52  rider],  affirmatively  chosen by the principal, by specifically listing
    53  additional powers of the agent; or
    54    3. Makes some additional provision which is not inconsistent with  the
    55  other  provisions  of  the statutory short form power of attorney [or of

        A. 5630                             7

     1  the statutory gifts rider], including a provision revoking one  or  more
     2  powers of attorney previously executed by the principal.
     3    §  14.  Section  5-1504  of the general obligations law, as amended by
     4  chapter 644 of the laws of 2008, the opening paragraph, subparagraphs  1
     5  and  9 of paragraph (a) and paragraph (b) of subdivision 1, subdivisions
     6  2, 3 and 5 as amended and subdivision 7 as added by chapter 340  of  the
     7  laws of 2010, is amended to read as follows:
     8    § 5-1504. Acceptance of and reliance upon acknowledged statutory short
     9  form  power of attorney. 1.  (a) For purposes of this section, "acknowl-
    10  edged" means purportedly verified before a notary public or other  indi-
    11  vidual authorized to take acknowledgements.
    12    (b)  A  person  that  in  good  faith accepts an acknowledged power of
    13  attorney without actual knowledge that the signature is not genuine  may
    14  rely upon the presumption that the signature is genuine.
    15    (c)  A  person  that  in  good  faith accepts an acknowledged power of
    16  attorney without actual knowledge that the power of  attorney  is  void,
    17  invalid,  or  terminated,  that the purported agent's authority is void,
    18  invalid, or terminated, or that the agent  is  exceeding  or  improperly
    19  exercising  the agent's authority may rely upon the power of attorney as
    20  if the power of attorney were genuine, valid and still  in  effect,  the
    21  agent's authority were genuine, valid and still in effect, and the agent
    22  had not exceeded and had properly exercised the authority.
    23    (d) A person that is asked to accept an acknowledged power of attorney
    24  may request, and rely upon, without further investigation:
    25    (1)  an  agent's certification under penalty of perjury of any factual
    26  matter concerning the principal, agent or power of attorney; and
    27    (2) an opinion of counsel as to any matter of law concerning the power
    28  of attorney if the person making the request provides in  a  writing  or
    29  other record the reason for the request.
    30    (e)  An  opinion  of  counsel  requested  under  this  section must be
    31  provided at the principal's expense unless the request is made more than
    32  seven business days after the power of attorney is presented for accept-
    33  ance.
    34    (f) For purposes of this section, a person  that  conducts  activities
    35  through  employees  is  without actual knowledge of a fact relating to a
    36  power of attorney, a principal, or an agent if the  employee  conducting
    37  the  transaction involving the power of attorney is without actual know-
    38  ledge of the fact after making reasonable inquiry with respect thereto.
    39    2. No third party located  or  doing  business  in  this  state  shall
    40  refuse,  without reasonable cause, to honor a statutory short form power
    41  of attorney properly executed in accordance with section 5-1501B of this
    42  title, [including a statutory short form  power  of  attorney  which  is
    43  supplemented  by  a  statutory  gifts  rider,] or a statutory short form
    44  power of attorney properly executed  in  accordance  with  the  laws  in
    45  effect at the time of its execution.
    46    (a)  Reasonable cause under this subdivision shall include, but not be
    47  limited to:
    48    (1) the refusal by the agent to provide an original power of  attorney
    49  or  a  copy  certified  by  an  attorney  pursuant to section twenty-one
    50  hundred five of the civil practice law and rules, or by a court or other
    51  government entity;
    52    (2) the third party's good faith referral of  the  principal  and  the
    53  agent to the local adult protective services unit;
    54    (3) actual knowledge of a report having been made by any person to the
    55  local  adult  protective  services  unit  alleging physical or financial

        A. 5630                             8
     1  abuse, neglect, exploitation or abandonment  of  the  principal  by  the
     2  agent or a person acting for or with the agent;
     3    (4)  actual  knowledge  of the principal's death or a reasonable basis
     4  for believing the principal has died;
     5    (5) actual knowledge of the incapacity of the principal or  a  reason-
     6  able  basis  for believing that the principal is incapacitated where the
     7  power of attorney tendered is a nondurable power of attorney;
     8    (6) actual knowledge or a reasonable  basis  for  believing  that  the
     9  principal  was  incapacitated  at  the  time  the  power of attorney was
    10  executed;
    11    (7) actual knowledge or a reasonable  basis  for  believing  that  the
    12  power of attorney was procured through fraud, duress or undue influence;
    13    (8)  actual  notice,  pursuant  to  subdivision  [three]  five of this
    14  section, of the termination or revocation of the power of attorney; [or]
    15    (9) the refusal by a  title  insurance  company  to  underwrite  title
    16  insurance  for  a  gift  of  real  property made pursuant to a statutory
    17  [gifts rider] short form power of attorney  or  non-statutory  power  of
    18  attorney  that  does not contain express instructions or purposes of the
    19  principal with respect to gifts in  the  modifications  section  of  the
    20  statutory  short form power of attorney or in the non-statutory power of
    21  attorney; or
    22    (10) the refusal of a request for a certification  or  an  opinion  of
    23  counsel under paragraph (d) of subdivision one of this section.
    24    (b)  It  shall  be  deemed unreasonable for a third party to refuse to
    25  honor a statutory short form power of attorney[, including  a  statutory
    26  short  form power of attorney which is supplemented by a statutory gifts
    27  rider,] properly executed in accordance with  section  5-1501B  of  this
    28  title  or  a statutory short form power of attorney properly executed in
    29  accordance with the laws in effect at the time of its execution, if  the
    30  only reason for the refusal is any of the following:
    31    (1)  the  power  of  attorney is not on a form prescribed by the third
    32  party to whom the power of attorney is presented.
    33    (2) there has been a lapse of time since the execution of the power of
    34  attorney.
    35    (3) on the face of the statutory short form power of  attorney,  there
    36  is  a  lapse of time between the date of acknowledgment of the signature
    37  of the principal and the date of acknowledgment of the signature of  any
    38  agent.
    39    [2.]  3. Not later than the seventh business day after presentation of
    40  a statutory short form power of attorney properly executed in accordance
    41  with section 5-1501B of this title or in accordance  with  the  laws  in
    42  effect  at  the  time  of its execution to a third party for acceptance,
    43  such third party shall either (a) honor the statutory short  form  power
    44  of attorney, or (b) reject the statutory short form power of attorney in
    45  a  writing that sets forth the reasons for such rejection, which writing
    46  shall be sent to the principal and the agent at  the  addresses  on  the
    47  power  of attorney and such other addresses as provided by the principal
    48  or the agent, or (c) request the agent to execute an acknowledged  affi-
    49  davit  pursuant  to  subdivision  seven of this section stating that the
    50  power of attorney is in full force and effect  if  the  statutory  short
    51  form  power  of  attorney was not submitted for acceptance together with
    52  such an acknowledged affidavit. If the third party initially rejects the
    53  statutory short form power of attorney in a writing that sets forth  the
    54  reasons  for  such rejection, the third party shall within five business
    55  days after receipt of a writing in response  to  the  reasons  for  such
    56  rejection  (i) honor the statutory short form power of attorney, or (ii)

        A. 5630                             9
     1  finally reject the statutory short form power of attorney in  a  writing
     2  that  sets  forth  the  reasons  for  such rejection. If the third party
     3  requests the agent to execute such an acknowledged affidavit, the  third
     4  party  shall  honor  such  statutory short form power of attorney within
     5  five business days after receipt by the third party of  an  acknowledged
     6  affidavit  which  complies  with  the provisions of subdivision seven of
     7  this section, stating that the power of attorney is in  full  force  and
     8  effect  unless  reasonable cause exists as described in paragraph (a) of
     9  subdivision two of this section. For the purposes of  this  subdivision,
    10  the  time  requirements  in which to honor or reject the statutory short
    11  form power of attorney or request the agent to execute  an  acknowledged
    12  affidavit  shall  not  apply to the department of audit and control or a
    13  public retirement system of the state as defined in subdivision  six  of
    14  section one hundred fifty-two of the retirement and social security law.
    15    4.  Except as provided in subdivision [three] five of this section, it
    16  shall be deemed unlawful for a third party  to  unreasonably  refuse  to
    17  honor  a  properly  executed  statutory  short  form power of attorney[,
    18  including a statutory short form power of attorney which is supplemented
    19  by a statutory gifts rider,] executed in accordance with section 5-1501B
    20  of this title or a statutory  short  form  power  of  attorney  properly
    21  executed  in  accordance  with  the  laws  in  effect at the time of its
    22  execution. [A] If a special proceeding as authorized by  section  5-1510
    23  of this title is brought to compel the third party to honor the statuto-
    24  ry  short form power of attorney, the court may award damages, including
    25  reasonable attorney's fees and costs, if the court finds that the  third
    26  party  acted  unreasonably  in  refusing  to honor the agent's authority
    27  under the statutory short form power of attorney. Such special  proceed-
    28  ing shall be the exclusive remedy for a violation of this section.
    29    [3.]  5.  In the absence of actual knowledge that the principal lacked
    30  capacity to execute a statutory short form power of attorney or that the
    31  statutory short form power  of  attorney  was  procured  through  fraud,
    32  duress  or  undue  influence,  no  third party receiving and retaining a
    33  [properly executed] statutory short  form  power  of  attorney  properly
    34  executed  in accordance with section 5-1501B of this title, [including a
    35  statutory short form power of attorney which is supplemented by a statu-
    36  tory gifts rider] or a statutory short form power of  attorney  properly
    37  executed  in  accordance  with  the  laws  in  effect at the time of its
    38  execution, or a complete  photostatic  copy  of  the  properly  executed
    39  original  thereof,  nor any officer, agent, attorney-in-fact or employee
    40  of such third party shall incur any liability by reason of  acting  upon
    41  the  authority thereof unless the third party shall have received actual
    42  notice of the revocation or termination of such power of attorney.
    43    If a principal maintains an account at a  financial  institution,  the
    44  financial institution is deemed to have actual notice after it has had a
    45  reasonable  opportunity  to act on a written notice of the revocation or
    46  termination following its receipt of the same at its office  where  such
    47  account is located.
    48    [4.]  6.  If the application of the provisions of subdivision [one or]
    49  two or four of this section shall be held invalid to any third party the
    50  application of such provisions to any third party other  than  those  to
    51  which it is held invalid, shall not be affected thereby.
    52    [5.]  7.  When the power of attorney is presented to a third party, it
    53  shall not be deemed unreasonable for a third party to require the  agent
    54  to  execute an acknowledged affidavit pursuant to this subdivision stat-
    55  ing that the power of attorney is in full  force  and  effect.  Such  an
    56  affidavit is conclusive proof to the third party relying on the power of

        A. 5630                            10
     1  attorney  that the power of attorney is valid and effective, and has not
     2  been terminated, revoked or modified, except as to any third  party  who
     3  had  actual  notice  that  the  power  of  attorney had terminated, been
     4  revoked  or  been modified prior to the execution of the affidavit. Such
     5  affidavit shall state that:
     6    (a) the agent does not have, at the time of  the  transaction,  actual
     7  notice  of  the  termination  or revocation of the power of attorney, or
     8  notice of any facts indicating that  the  power  of  attorney  has  been
     9  terminated or revoked;
    10    (b)  the  agent  does not have, at the time of the transaction, actual
    11  notice that the power of attorney has been  modified  in  any  way  that
    12  would  affect  the  ability  of  the agent to authorize or engage in the
    13  transaction, or notice of any facts indicating that the power of  attor-
    14  ney has been so modified;
    15    (c) if the agent was named as a successor agent, the prior agent is no
    16  longer able or willing to serve; and
    17    (d)  if the agent has been the principal's spouse, the power of attor-
    18  ney expressly provides that divorce or annulment as defined in  subpara-
    19  graph  two  of paragraph (f) of section 5-1.4 of the estates, powers and
    20  trusts law does not terminate the agent's authority thereunder,  or  the
    21  agent  does not have actual notice that the marriage has been terminated
    22  by divorce or annulment as defined in subparagraph two of paragraph  (f)
    23  of  section  5-1.4  of the estates, powers and trusts law at the time of
    24  the transaction.
    25    [6.] 8. Nothing in this section shall require the acceptance of a form
    26  that is not a statutory short form power of attorney.
    27    [7.] 9. A statutory short form power of attorney  or  a  non-statutory
    28  power  of  attorney  that  meets  the requirements of subdivision one of
    29  section 5-1501B of this title shall be accepted for recording so long as
    30  it has been signed by one agent named therein whose signature  has  been
    31  acknowledged.  If  two  or more agents acting on behalf of the principal
    32  are required to act together, the power of attorney  shall  be  accepted
    33  for recording as long as their signatures have been acknowledged. When a
    34  successor or co-agent authorized to act separately from any other agents
    35  presents  a  certified  copy of a recorded statutory short form power of
    36  attorney or non-statutory power of attorney with the  agent's  signature
    37  acknowledged, the instrument shall be accepted for recording.
    38    §  15.  Subparagraph  2  of  paragraph (a) of subdivision 2 of section
    39  5-1505 of the general obligations law, as amended by chapter 340 of  the
    40  laws of 2010, is amended to read as follows:
    41    (2)  To  keep  the principal's property separate and distinct from any
    42  other property owned or controlled by the  agent,  except  for  property
    43  that  is  jointly  owned  by  the principal and agent at the time of the
    44  execution of the power of attorney, and property  that  becomes  jointly
    45  owned  after the execution of the power of attorney as the result of the
    46  agent's acquisition of an interest in the principal's property by reason
    47  of the agent's  exercise  of  authority  granted  in  the  modifications
    48  section  of a statutory [gifts rider] short form power of attorney or in
    49  a non-statutory power of attorney [signed and  dated  by  the  principal
    50  with  the  signature  of  the  principal duly acknowledged in the manner
    51  prescribed for the acknowledgment of a conveyance of real property,  and
    52  which  is  executed  pursuant  to  the  requirements of paragraph (b) of
    53  subdivision nine of section 5-1514 of this title].  The  agent  may  not
    54  make  gifts [to] of the principal's property to himself or herself with-
    55  out specific authorization in a power of attorney.

        A. 5630                            11
     1    § 16. Paragraphs (h) and (i) of subdivision 2 of section 5-1510 of the
     2  general obligations law, as added by chapter 644 of the  laws  of  2008,
     3  are amended to read as follows:
     4    (h) to construe any provision of a power of attorney; or
     5    (i)  to compel acceptance of the power of attorney [in which event the
     6  relief to be granted is limited to an order compelling acceptance].
     7    § 17. Section 5-1513 of the general obligations  law,  as  amended  by
     8  chapter 340 of the laws of 2010, is amended to read as follows:
     9    § 5-1513.  Statutory short form power of attorney. [1.] The use of the
    10  following form, or one which substantially  conforms  to  the  following
    11  form,  in the creation of a power of attorney is lawful, and, when used,
    12  and executed in accordance with subdivision one of  section  5-1501B  of
    13  this  title,  it  shall  be construed as a statutory short form power of
    14  attorney in accordance with  the  provisions  of  this  title;  provided
    15  however,  that any section indicated as "Optional" which is not used may
    16  be omitted and replaced by the words "Intentionally Omitted":
    17                             "POWER OF ATTORNEY
    18                        NEW YORK STATUTORY SHORT FORM
    19    (a) CAUTION TO THE PRINCIPAL:  Your Power of Attorney is an  important
    20  document.  As the "principal," you give the person whom you choose (your
    21  "agent") authority to spend your money and sell or dispose of your prop-
    22  erty during your lifetime without telling you.  You  do  not  lose  your
    23  authority  to act even though you have given your agent similar authori-
    24  ty.
    25    When your agent exercises this authority, he or she must act according
    26  to any instructions you have provided or, where there  are  no  specific
    27  instructions,  in  your  best  interest.  "Important Information for the
    28  Agent" at the end of this document describes your  agent's  responsibil-
    29  ities.
    30    Your  agent  can  act  on  your behalf only after signing the Power of
    31  Attorney before a notary public.
    32    You can request information from your agent at any time.  If  you  are
    33  revoking a prior Power of Attorney, you should provide written notice of
    34  the  revocation  to your prior agent(s) and to any third parties who may
    35  have acted upon it, including  the  financial  institutions  where  your
    36  accounts are located.
    37    You can revoke or terminate your Power of Attorney at any time for any
    38  reason  as  long as you are of sound mind. If you are no longer of sound
    39  mind, a court can remove an agent for acting improperly.
    40    Your agent cannot make health care decisions for you. You may  execute
    41  a "Health Care Proxy" to do this.
    42    The  law  governing  Powers  of  Attorney is contained in the New York
    43  General Obligations Law, Article 5, Title 15. This law is available at a
    44  law library, or online through the New York  State  Senate  or  Assembly
    45  websites,       [www.senate.state.ny.us]       www.nysenate.gov       or
    46  [www.assembly.state.ny.us] www.nyassembly.gov.
    47    If there is anything about this document that you do  not  understand,
    48  you should ask a lawyer of your own choosing to explain it to you.
    49  (b) DESIGNATION OF AGENT(S):
    50  I, _______________________________________________, hereby appoint:

        A. 5630                            12
     1        name and address of principal
     2  _____________________________________________________as my agent(s)
     3        name(s) and address(es) of agent(s)
     4    If  you  designate  more than one agent above and you do not initial a
     5  statement below, they must act together [unless you initial  the  state-
     6  ment below].
     7        (   ) My agents must act TOGETHER.
     8        (   ) My successor agents may act SEPARATELY.
     9  (c) DESIGNATION OF SUCCESSOR AGENT(S): (OPTIONAL)
    10    If  any  agent  designated  above  is  unable or unwilling to serve, I
    11  appoint as my successor agent(s):
    12    _______________________________________________________________
    13    name(s) and address(es) of successor agent(s)
    14  [Successor] If you do not initial a statement  below,  successor  agents
    15  designated  above  must  act  together [unless you initial the statement
    16  below].
    17        (   ) My successor agents must act TOGETHER.
    18        (   ) My successor agents may act SEPARATELY.
    19    You may provide for specific succession rules in this section.  Insert
    20  specific succession provisions here:
    21  (d)  This POWER OF ATTORNEY shall not be affected by my subsequent inca-
    22  pacity unless I have stated otherwise below, under "Modifications".
    23  (e) This POWER OF ATTORNEY DOES NOT REVOKE any Powers of Attorney previ-
    24  ously executed by  me  unless  I  have  stated  otherwise  below,  under
    25  "Modifications."
    26    [If  you do NOT intend to revoke your prior Powers of Attorney, and if
    27  you have granted the same authority in this Power  of  Attorney  as  you
    28  granted  to  another  agent in a prior Power of Attorney, each agent can
    29  act separately unless you indicate under "Modifications" that the agents
    30  with the same authority are to act together.]
    31  (f) GRANT OF AUTHORITY:
    32    To grant your agent some or all of the authority below, either
    33        (1) Initial the bracket at each authority you grant, or
    34        (2) Write or type the letters for each authority you grant on  the
    35        blank line at (P), and initial the bracket at (P). If you initial
    36        (P), you do not need to initial the other lines.
    37    I  grant  authority  to  my  agent(s)  with  respect  to the following
    38  subjects as defined in sections 5-1502A through 5-1502N of the New  York
    39  General Obligations Law:
    40        (   ) (A) real estate transactions;
    41        (   ) (B) chattel and goods transactions;
    42        (   ) (C) bond, share, and commodity transactions;
    43        (   ) (D) banking transactions;
    44        (   ) (E) business operating transactions;
    45        (   ) (F) insurance transactions;
    46        (   ) (G) estate transactions;
    47        (   ) (H) claims and litigation;
    48        (   ) (I) personal and family maintenance. If you grant your agent
    49                  this  authority,  it  will allow the agent to make gifts
    50                  that you customarily have made to individuals, including
    51                  the  agent,  and  charitable  organizations.  The  total

        A. 5630                            13
     1                  amount of all such gifts in any one calendar year cannot
     2                  exceed five [hundred] thousand dollars;
     3        (   ) (J) benefits from governmental programs or civil or military
     4                  service;
     5        (   ) (K) financial  matters  related  to health care [billing and
     6                  payment matters]; records, reports, and statements;
     7        (   ) (L) retirement benefit transactions;
     8        (   ) (M) tax matters;
     9        (   ) (N) all other matters;
    10        (   ) (O) full and unqualified authority to my agent(s)  to  dele-
    11                  gate any or all of the foregoing powers to any person or
    12                  persons whom my agent(s) select;
    13        (   ) (P) EACH   of   the  matters  identified  by  the  following
    14                  letters______.
    15    You need not initial the other lines if you initial line (P).
    16  (g) [MODIFICATIONS: (OPTIONAL)
    17    In  this  section,  you  may  make  additional  provisions,  including
    18  language to limit or supplement authority granted to your agent.
    19    However, you cannot use this Modifications section to grant your agent
    20  authority  to  make  gifts or changes to interests in your property.  If
    21  you wish to grant your agent such authority, you MUST complete the Stat-
    22  utory Gifts Rider.
    23  (h)] CERTAIN GIFT TRANSACTIONS: [STATUTORY GIFTS RIDER] (OPTIONAL)
    24    In order to authorize your agent to make gifts in excess of an  annual
    25  total  of  [$500]  $5,000 for all gifts described in (I) of the grant of
    26  authority section of this document (under personal  and  family  mainte-
    27  nance),  and/or  to  make changes to interest in your property, you must
    28  [initial the statement below and execute a Statutory Gifts Rider at  the
    29  same  time as this instrument.  Initialing the statement below by itself
    30  does not authorize your agent to make  gifts.  The  preparation  of  the
    31  Statutory Gifts Rider] expressly grant that authorization in the Modifi-
    32  cations section below. If you wish to authorize your agent to make gifts
    33  to  himself  or  herself, you must expressly grant such authorization in
    34  the Modifications section below. Granting such authority to  your  agent
    35  gives your agent the authority to take actions which could significantly
    36  reduce  your  property and/or change how your property is distributed at
    37  your death. Your choice to grant such authority  should  be  [supervised
    38  by] discussed with a lawyer.
    39    (      )  [(SGR)]  I grant my agent authority to make gifts in accord-
    40  ance with the terms  and  conditions  of  the  [Statutory  Gifts  Rider]
    41  Modifications  that  [supplements]  supplement  this  Statutory Power of
    42  Attorney.
    43    (h) MODIFICATIONS: (OPTIONAL)
    44    In this section, you may make additional  provisions,  including,  but
    45  not  limited  to,  language  to limit or supplement authority granted to
    46  your agent, language to grant your agent the specific authority to  make
    47  gifts  to  himself  or  herself, and/or language to grant your agent the
    48  specific authority to make other gift  transactions  and/or  changes  to
    49  interests in your property. Your agent is entitled to be reimbursed from
    50  your  assets  for  reasonable  expenses incurred on your behalf. In this
    51  section, you may make  additional  provisions  if  you  ALSO  wish  your
    52  agent(s)  to  be  compensated  from your assets for services rendered on
    53  your behalf, and you may define "reasonable compensation."

        A. 5630                            14
     1  (i) DESIGNATION OF MONITOR(S): (OPTIONAL)
     2    If  you  wish  to  appoint monitor(s), initial and fill in the section
     3  below:
     4    (     ) I wish to designate ______________________, whose  address(es)
     5  is  (are)  ____________________________________________________________,
     6  as monitor(s). Upon the request of  the  monitor(s),  my  agent(s)  must
     7  provide the monitor(s) with a copy of the power of attorney and a record
     8  of  all  transactions  done  or made on my behalf. Third parties holding
     9  records of such transactions shall provide the records to the monitor(s)
    10  upon request.
    11  (j) COMPENSATION OF AGENT(S): [(OPTIONAL)]
    12    Your agent is entitled to be reimbursed from your assets  for  reason-
    13  able expenses incurred on your behalf. If you ALSO wish your agent(s) to
    14  be  compensated  from  your assets for services rendered on your behalf,
    15  [initial the statement below. If you] and/or you wish to define "reason-
    16  able compensation", you may do so above, under "Modifications"[.
    17    (   ) My agent(s) shall be entitled  to  reasonable  compensation  for
    18  services rendered.]
    19  (k)  ACCEPTANCE  BY  THIRD PARTIES: I agree to indemnify the third party
    20  for any claims that may arise against the third party because  of  reli-
    21  ance  on  this  Power  of Attorney. I understand that any termination of
    22  this Power of Attorney, whether the result of my revocation of the Power
    23  of Attorney or otherwise, is not effective as to a third party until the
    24  third party has actual notice or knowledge of the termination.
    25  (l) TERMINATION: This Power of Attorney continues until I revoke  it  or
    26  it  is terminated by my death or other event described in section 5-1511
    27  of the General Obligations Law.
    28    Section 5-1511 of the General Obligations Law describes the manner  in
    29  which you may revoke your Power of Attorney, and the events which termi-
    30  nate the Power of Attorney.
    31  (m) SIGNATURE AND ACKNOWLEDGMENT:
    32  In Witness Whereof I have hereunto signed my name on ___________,20___.
    33  PRINCIPAL signs here: ==>__________________________________________
    34  (acknowledgment)
    35  (n) IMPORTANT INFORMATION FOR THE AGENT:
    36    When  you accept the authority granted under this Power of Attorney, a
    37  special legal relationship is created between  you  and  the  principal.
    38  This  relationship  imposes  on you legal responsibilities that continue
    39  until you resign or the Power of Attorney is terminated or revoked.  You
    40  must:
    41    (1)  act  according  to any instructions from the principal, or, where
    42  there are no instructions, in the principal's best interest;
    43    (2) avoid conflicts that would impair your ability to act in the prin-
    44  cipal's best interest;
    45    (3) keep the principal's  property  separate  and  distinct  from  any
    46  assets you own or control, unless otherwise permitted by law;
    47    (4)  keep  a record [or] of all [receipts, payments, and] transactions
    48  conducted for the principal or keep all receipts of payments and  trans-
    49  actions conducted for the principal; and

        A. 5630                            15
     1    (5)  disclose your identity as an agent whenever you act for the prin-
     2  cipal by writing or printing the principal's name and signing  your  own
     3  name  as  "agent" in either of the following manners: (Principal's Name)
     4  by (Your Signature) as Agent, or (your signature) as Agent for  (Princi-
     5  pal's Name).
     6    You  may  not use the principal's assets to benefit yourself or anyone
     7  else or make gifts to yourself or anyone else unless the  principal  has
     8  specifically  granted you that authority in the modifications section of
     9  this document[, which is either a Statutory Gifts Rider  attached  to  a
    10  Statutory  Short  Form  Power  of  Attorney] or a Non-Statutory Power of
    11  Attorney. If you have that authority, you  must  act  according  to  any
    12  instructions  of the principal or, where there are no such instructions,
    13  in the principal's best interest.  You  may  resign  by  giving  written
    14  notice to the principal and to any co-agent, successor agent, monitor if
    15  one  has been named in this document, or the principal's guardian if one
    16  has been appointed. If there is anything about  this  document  or  your
    17  responsibilities  that  you  do  not  understand,  you should seek legal
    18  advice.
    19    Liability of agent:
    20    The meaning of the authority given to you is  defined  in  New  York's
    21  General  Obligations  Law,  Article 5, Title 15. If it is found that you
    22  have violated the law or acted outside the authority granted to  you  in
    23  the  Power  of  Attorney,  you  may  be  liable  under  the law for your
    24  violation.
    25  (o) AGENT'S SIGNATURE AND ACKNOWLEDGMENT OF APPOINTMENT:
    26    It is not required that the principal and the  agent(s)  sign  at  the
    27  same time, nor that multiple agents sign at the same time.
    28  I/we, ___________________________________________, have read the forego-
    29  ing  Power  of Attorney. I am/we are the person(s) identified therein as
    30  agent(s) for the principal named therein.
    31  I/we acknowledge my/our legal responsibilities.
    32  In Witness Whereof I have hereunto signed my  name  on  ________________
    33  20_____.
    34  Agent(s) sign(s) here:==>__________________________________________
    35  (acknowledgment(s))
    36  (p) SUCCESSOR AGENT'S SIGNATURE AND ACKNOWLEDGMENT OF APPOINTMENT:
    37    It  is  not required that the principal and the SUCCESSOR agent(s), if
    38  any, sign at the same time, nor that multiple SUCCESSOR agents  sign  at
    39  the  same  time. Furthermore, successor agents can not use this power of
    40  attorney unless the agent(s) designated above is/are unable or unwilling
    41  to serve.
    42  I/we, ___________________________________________, have read the forego-
    43  ing Power of Attorney. I am/we are the person(s) identified  therein  as
    44  SUCCESSOR agent(s) for the principal named therein.
    45  In  Witness  Whereof  I have hereunto signed my name on ________________
    46  20_____.
    47  Successor Agent(s) sign(s) here:==>______________________________________

        A. 5630                            16
     1  (acknowledgment(s))"
     2    § 18. Section 5-1514 of the general obligations law is REPEALED.
     3    §  19.  This  act  shall  take effect on the one hundred eightieth day
     4  after it shall have become a law, provided,  that  any  statutory  short
     5  form power of attorney and any statutory gifts rider executed by a prin-
     6  cipal  and  valid  at  the  time executed by such principal shall remain
     7  valid, as will any revocation of a prior  power  of  attorney  that  was
     8  delivered to an agent prior to the effective date of this act.
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