§ 5-1510 — Special proceedings

New York § 5-1510

• Jurisdiction: New York
• Law GOB: General Obligations
• Title 15: Statutory Short Form and Other Powers of Attorney For Financial and Estate Planning
• Art. 5: Creation, Definition and Enforcement of Contractual Obligations

Text

§ 5-1510. Special proceedings. 1. If the agent has failed to make\navailable a copy of the power of attorney and/or a record of all\nreceipts, disbursements, and transactions entered into by the agent on\nbehalf of a principal to a person who may request such record pursuant\nto subparagraph three of paragraph (a) of subdivision two of section\n5-1505 of this title, that person may commence a special proceeding to\ncompel the agent to produce a copy of the power of attorney and such\nrecord.\n 2. A special proceeding may be commenced pursuant to this section for\nany of the following additional purposes:\n (a) to determine whether the power of attorney is valid;\n (b) to determine whether the principal had capacity at the time the\npower of attorney was executed;\n (c) to determine whether the power of attorney was procured through\nduress, fraud or undue influence;\n (d) to determine whether the agent is entitled to receive compensation\nor whether the compensation received by the agent is reasonable for the\nresponsibilities performed;\n (e) to approve the record of all receipts, disbursements and\ntransactions entered into by the agent on behalf of the principal;\n (f) to remove the agent upon the grounds that the agent has violated,\nor is unfit, unable, or unwilling to perform, the fiduciary duties under\nthe power of attorney;\n (g) to determine how multiple agents must act;\n (h) to construe any provision of a power of attorney; or\n (i) to compel acceptance of the power of attorney.\n A special proceeding may also be commenced by an agent who wishes to\nobtain court approval of his or her resignation.\n 3. A special proceeding may be commenced pursuant to subdivision two\nof this section by any person identified in subparagraph three of\nparagraph (a) of subdivision two of section 5-1505 of this title, the\nagent, the spouse, child or parent of the principal, the principal's\nsuccessor in interest, or any third party who may be required to accept\na power of attorney.\n 4. If a power of attorney is suspended or revoked under this section,\nor the agent is removed by the court, the court may require the agent to\nprovide a record of all receipts, disbursements and transactions entered\ninto by the agent on behalf of the principal and to deliver any property\nbelonging to the principal and copies of records concerning the\nprincipal's property and affairs to a successor agent, a government\nentity or the principal's legal representative.\n