Title GOB, General Obligations

§ 5-1502A. Construction--real estate transactions. In a statutory short form power of attorney, the language conferring general authority with respect to "real estate transactions," must be construed to mean that the principal authorizes the agent: 1. To accept as a gift, or as …

§ 5-1502B. Construction--chattel and goods transactions. In a statutory short form power of attorney, the language conferring general authority with respect to "chattel and goods transactions," must be construed to mean that the principal authorizes the agent: 1. To accept as a …

§ 5-1502C. Construction--bond, share and commodity transactions. In a statutory short form power of attorney, the language conferring general authority with respect to "bond, share and commodity transactions," must be construed to mean that the principal authorizes the agent: 1.…

§ 5-1502D. Construction--banking transactions. In a statutory short form power of attorney, the language conferring general authority with respect to "banking transactions," must be construed to mean that the principal authorizes the agent: 1. To continue, to modify, to terminat…

§ 5-1502E. Construction--business operating transactions. In a statutory short form power of attorney, the language conferring general authority with respect to "business operating transactions," must be construed to mean that the principal authorizes the agent: 1. To the extent…

§ 5-1502F. Construction--insurance transactions. In a statutory short form power of attorney, the language conferring general authority with respect to "insurance transactions," must be construed to mean that the principal authorizes the agent: 1. To continue, to pay the premium…

§ 5-1502G. Construction--estate transactions. In a statutory short form power of attorney, the language conferring general authority with respect to "estate transactions," must be construed to mean that the principal authorizes the agent: 1. To the extent that an agent is permit…

§ 5-1502H. Construction--claims and litigation. In a statutory short form power of attorney, the language conferring general authority with respect to "claims and litigation," must be construed to mean that the principal authorizes the agent: 1. To assert and to prosecute before…

§ 5-1502I. Construction--personal and family maintenance. In a statutory short form power of attorney, the language conferring general authority with respect to "personal and family maintenance" must be construed to mean that the principal authorizes the agent: 1. To do all acts…

§ 5-1502J. Construction--benefits from governmental programs or civil or military service. In a statutory short form power of attorney, the language conferring general authority with respect to "benefits from governmental programs or civil or military service," or in a statutory…

§ 5-1502K. Construction--matters related to health care. In a statutory short form power of attorney, the language conferring general authority with respect to "matters related to health care," or in a statutory short form power of attorney properly executed in accordance with t…

§ 5-1502L. Construction--retirement benefit transactions. In a statutory short form power of attorney, the language conferring general authority with respect to "retirement benefit transactions" must be construed to mean that the principal authorizes the agent: 1. To contribute …

§ 5-1502M. Construction--tax matters. In a statutory short form power of attorney, the language conferring general authority with respect to "tax matters", must be construed to mean that the principal authorizes the agent: 1. To prepare, sign, and file federal, state, local, and…

§ 5-1502N. Construction--all other matters. In a statutory short form power of attorney, the language conferring general authority with respect to "all other matters" must be construed to mean that the principal authorizes the agent to act as an alter ego of the principal with r…

§ 5-1503. Modifications of the statutory short form power of attorney. A power of attorney which satisfies the requirements of paragraphs (a), (b) and (c) of subdivision one of section 5-1501B and section 5-1513 of this title is not prevented from being a "statutory short form p…

§ 5-1504. Acceptance of and reliance upon acknowledged and witnessed statutory short form power of attorney. 1. (a) For purposes of this section, "acknowledged" means purportedly verified before a notary public or other individual authorized to take acknowledgements. For purpose…

§ 5-1505. Standard of care; fiduciary duties; compelling disclosure of record. 1. Standard of care. In dealing with property of the principal, an agent shall observe the standard of care that would be observed by a prudent person dealing with property of another. 2. Fiduciary du…

§ 5-1506. Compensation. 1. An agent is not entitled to receive compensation from the assets of the principal for responsibilities performed under a power of attorney unless the principal specifically provides for compensation in the power of attorney. 2. An agent shall be entitl…

§ 5-1507. Signature of agent. 1. (a) In any transaction where the agent is acting pursuant to a power of attorney and where the hand-written signature of the agent or principal is required, the agent shall disclose the principal and agent relationship by: (1) signing "(name of a…

§ 5-1508. Co-agents and successor agents. 1. A principal may designate two or more persons to act as co-agents. Unless the principal provides otherwise in the power of attorney, the co-agents must act jointly. However, if prompt action is required to accomplish a purpose of the …

§ 5-1509. Appointment of monitor. A principal may appoint a monitor or monitors in the power of attorney who shall have the authority to request, receive and compel the agent to provide a record of all receipts, disbursements and transactions entered into by the agent on behalf …

§ 5-1510. Special proceedings. 1. If the agent has failed to make available a copy of the power of attorney and/or a record of all receipts, disbursements, and transactions entered into by the agent on behalf of a principal to a person who may request such record pursuant to sub…

§ 5-1511. Termination or revocation of power of attorney; notice. 1. A power of attorney terminates when: (a) the principal dies; (b) the principal becomes incapacitated, if the power of attorney is not durable; (c) the principal revokes the power of attorney; (d) the principal …

§ 5-1512. Powers of attorney executed in other jurisdictions. Notwithstanding the provisions of section 5-1501B of this title, a power of attorney executed in another state or jurisdiction in compliance with the law of that state or jurisdiction or the law of this state is valid…

§ 5-1513. Statutory short form power of attorney. The use of the following form, or one which substantially conforms to the following form, in the creation of a power of attorney is lawful, and, when used, and executed in accordance with subdivision one of section 5-1501B of thi…

§ 5-1551. Power of parent to designate a person in parental relation. A parent of a minor or incapacitated person may designate another person as a person in parental relation to such minor or incapacitated person pursuant to sections twenty-one hundred sixty-four and twenty-fiv…

§ 5-1552. Form of designation. 1. Designations in general. A designation of a person in parental relation pursuant to this title shall be in writing and shall include: the name of the parent, the name of the designee, the name of each minor or incapacitated person with respect t…

§ 5-1553. Scope of designation. A designation pursuant to this title may specify: the treatment, diagnosis or activities for which consent is authorized; any treatment, diagnosis or activity for which consent is not authorized; or any other limitation on the duties and responsib…

§ 5-1554. Revocation of designation. A parent may revoke a designation by notifying, either orally or in writing, the designee or a school, health care provider, or health plan to which the designation has been presented, or by any other act evidencing a specific intent to revok…

§ 5-1555. Effect of designation. 1. A designee shall possess all the powers and duties of a person in parental relation pursuant to sections twenty-one hundred sixty-four and twenty-five hundred four of the public health law and sections two and thirty-two hundred twelve of the …

§ 5-1601. Definitions. As used in this title the following terms shall have the following meanings: 1. "Euro" shall mean the currency of participating member states of the European Union that adopt a single currency in accordance with the treaty on European Union signed February…

§ 5-1602. Continuity of contract. 1. (a) If a subject or medium of payment of a contract, security or instrument is a currency that has been substituted or replaced by the euro, the euro will be a commercially reasonable substitute and substantial equivalent that may be either: …

§ 5-1603. Effect of agreements. The provisions of this title shall not alter or impair and shall be subject to any agreements between parties with specific reference to or agreement regarding the introduction of the euro.

§ 5-1604. Application. 1. Notwithstanding the uniform commercial code or any other law of this state, this title shall apply to all contracts, securities and instruments, including contracts with respect to commercial transactions, and shall not be deemed to be displaced by any …

§ 5-1701. Definitions. For purposes of this title: (a) "annuity issuer" means an insurer that has issued an insurance contract used to fund periodic payments under a structured settlement; (b) "dependents" include a payee's spouse and minor children and all other persons for who…

§ 5-1702. Initial disclosure of structured settlement terms. In negotiating a structured settlement of claims brought by or on behalf of a claimant who is domiciled in this state, the defendant or defendant's legal representative shall disclose in writing to the claimant or the …

§ 5-1703. Required disclosures to payee. Not less than ten days prior to the date on which the payee signs a transfer agreement, the transferee shall provide to the payee by first class mail and certified mail, return receipt requested or United States postal service priority ma…

§ 5-1704. Provisions prohibited in transfer agreement. No transfer agreement or other document or agreement executed in association with the transfer shall contain any provision described in this section. To the extent that a prohibited provision is included in a transfer agreem…

§ 5-1705. Procedure for approval of transfers. (a) An action for approval of a transfer of a structured settlement shall be by a special proceeding brought on only by order to show cause. (b) Such proceeding shall be commenced to obtain approval of a transfer of structured settl…

§ 5-1706. Approval of transfers of structured settlement payment rights. No direct or indirect transfer of structured settlement payment rights shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly …

§ 5-1707. Effects of transfer of structured settlement payment rights. Following a transfer of structured settlement payment rights under this title: (a) The structured settlement obligor and the annuity issuer shall, as to all parties except the transferee, be discharged and re…

§ 5-1708. General provisions; construction. (a) The provisions of this title may not be waived by any payee. (b) Any transfer agreement entered into on or after the effective date of this title by a payee who resides in this state shall provide that disputes under such transfer …

§ 5-1708-a. Waiver for families of victims of terrorist attacks. Notwithstanding the provisions of section four thousand two hundred twenty-four of the insurance law: (a) An annuity issuer, or an employee or other representative of such issuer, shall be permitted to waive or off…

§ 5-1709. Enforcement. (a) In addition to the other remedies provided, whenever there shall be a violation of this title, application may be made by the attorney general in the name of the people of the state of New York to a court of competent jurisdiction by a special proceedi…

§ 5-301. Certain employment contracts void. Every undertaking or promise, whether written or oral, express or implied, constituting or contained, in any contract or agreement of hiring or employment between any individual, firm, company, association or corporation and any employ…

§ 5-302. 1. Contracts for the creation and use of digital replicas. Any provision in an agreement between an individual and any other person or entity for the performance of personal or professional services is contrary to public policy and shall be void and unenforceable as it …

§ 5-311. Certain agreements between husband and wife void. Except as provided in section two hundred thirty-six of the domestic relations law, a husband and wife cannot contract to alter or dissolve the marriage or to relieve either of his or her liability to support the other i…

§ 5-321. Agreements exempting lessors from liability for negligence void and unenforceable. Every covenant, agreement or understanding in or in connection with or collateral to any lease of real property exempting the lessor from liability for damages for injuries to person or p…

§ 5-322. Agreements exempting caterers and catering establishments from liability for negligence void and unenforceable. Every covenant, agreement or understanding in or in connection with or collateral to any contract entered into with any caterer or catering establishment exem…

§ 5-322.1. Agreements exempting owners and contractors from liability for negligence void and unenforceable; certain cases. 1. A covenant, promise, agreement or understanding in, or in connection with or collateral to a contract or agreement relative to the construction, alterat…