[Download] "New York's New "Power of Attorney" Law is Effective September 1, 2009 (From Counsel)" by Insurance Advocate ~ Book PDF Kindle ePub Free
eBook details
- Title: New York's New "Power of Attorney" Law is Effective September 1, 2009 (From Counsel)
- Author : Insurance Advocate
- Release Date : January 17, 2009
- Genre: Industries & Professions,Books,Business & Personal Finance,
- Pages : * pages
- Size : 69 KB
Description
Powers of attorney are instruments by which a principal can appoint an agent to act on behalf of the principal in legal or business matters. New York State has recently made broad sweeping changes to its laws governing powers of attorney[i]. These changes are effective for powers of attorney executed on or after September 1, 2009. Originally scheduled to take effect six months prior, the effective date of the legislation was delayed[ii] to allow for both the legal bar and the public, including banks, insurance companies and other financial institutions which regularly utilize a variety of forms of powers of attorney in the conduct of their affairs, to become educated with the new requirements. Powers of attorney executed before September 1st will remain valid, but will become subject to certain of the provisions in the new law expanding their use for benefits and health care purposes, providing enforcement procedures and establishing standards of care. Because of the unprecedented scope of this new legislation, it affects not only those who live in New York, but also anyone who executes a New York power of attorney in connection with the conduct of business in New York. New Form, Execution Requirements and Consequences
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