WebSee GOL § 5-1505(1). The agent owes a fiduciary duty to the principal when acting pursuant to a power of attorney. See GOL § 5-1505(2)(a). That duty includes each of the following obligations: • to act according to any instructions from the principal or, where there are no instructions, in the best interests of the principal; WebApr 9, 2024 · CHAPTER TWENTY-FOUR-A OF THE CONSOLIDATED LAWS GENERAL OBLIGATIONS LAW Article 1. Short title; construction; applicability of certain sections. (§§ 1-101--1-203.) 3. Capacity; effect of status or of certain relationships or occupations upon the creation, definition or enforcement of obligations. (§§ 3-101--3-503.) 5.
New York General Obligations Law Section 5-1510 - Special …
WebThat petition is brought pursuant to General Obligations Law § 5-1505 and requests the issuance of an order determining the validity of the power of attorney executed by E. K. on July 6, 2016, appointing E. I. as her agent and attorney-in-fact; an accounting by E. I.; and removal of E. I. as the agent under the power of attorney, based on … WebJan 17, 2024 · Pursuant to New York General Obligations Law 5-1505 (2) (1), an agent under a Power of Attorney has a duty to the Principal (the person who executed the power of attorney) to act in accordance with … harvey house railroad depot barstow
Matter of S.B. (E.K.) - Justia Law
WebJun 18, 2024 · § 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 … WebSection 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 duties. WebLaw § 5-1505 Amended by New York Laws 2024, ch. 323,Sec. 15, eff. 6/13/2024. Section 5-1504 - Acceptance of and reliance upon acknowledged and witnessed statutory short … bookshelf library decor