June 17, 2021
Advantage Title: Industry Bulletin 2021-07
New York's Statutory Short Form Power
of Attorney ("SSF")
Title 15 of Article 5 of New York’s General Obligations Law (“GOL”), governing the form and acceptance of statutory and non-statutory forms of powers of attorney, has been amended effective June 13, 2021.
The form of SSF in Chapter 644 of the Laws of 2008, effective September 1, 2009, as amended by Chapter 340 of the Laws of 2010, may continue to be used if it was fully executed and acknowledged, as required, no later than June 12, 2021. Title 15 was recently amended by Chapter 323 of the Laws of 2020 and Chapter 84 of the Laws of 2021, both of which are effective June 13, 2021 (collectively, the “Amendment”). Chapter 323 identifies the statutory short form as “Power of Attorney-New York Statutory Short Form”. The new form of SSF can be found here. Please see this chart detailing the changes brought about by the Amendment.
Please contact Drew Steigler, Chief Underwriting Counsel, at
631.424.6100 or firstname.lastname@example.org
with any questions.