Dozens of prominent New York law firms are warning that a new state power-of-attorney statute designed to discourage fraud in elder law and estate planning could create “unnecessary confusion and disruption” in several well-established areas of commercial transactions.

The firms argue in a recently released analysis that the statute’s provisions for executing a power of attorney form for elder care purposes do not apply to the creation of valid proxies for the voting of shares of stock held by investors of New York corporations and non-New York corporations.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]