WebFeb 3, 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 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 …
New York Consolidated Laws, General Obligations Law
WebJun 18, 2024 · The Laws of New York . Consolidated Laws of New York . CHAPTER 24-A . General Obligations ... General Obligations (GOB) CHAPTER 24-A, ARTICLE 5. … 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; barseghyan
New York General Obligations Law Section 5-1505 - OneCLE
WebDec 13, 2016 · any person or persons designated by the alleged incapacitated person with authority pursuant to sections 5-1501, 5-1505, and 5-1506 of the general obligations law, or sections two thousand nine hundred five and two thousand nine hundred eighty-one of the public health law, if known to the petitioner; and (iv) Web(b) Subject to subdivision (a) of this section, the appointment of a guardian shall not be conclusive evidence that the person lacks capacity for any other purpose, including the capacity to dispose of property by will. (c) The title to all property of the incapacitated person shall be in such person and not in the guardian. WebJan 1, 2024 · 1. an adequate remedy at law does not exist; or. 2. substantial or irreparable damage would result from the continued violation of the provision. (3) A member of the Board may not be held personally liable for any action taken under this subsection in … barsegian artem