On August 15, 2010, Governor Patterson signed into law amendments to the section of New York’s General Obligations Law relating to the validity, use and standards of oversight for powers of attorney executed by individuals in the state of New York that was previously revised in September 2009. The amendments except from the definition of “power of attorney” certain commercial and business powers of attorney and remove the presumption that a new power of attorney automatically revokes any existing powers of attorney.

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