N.Y.
General Obligations Law Section 5-1510
Special proceedings
1.
If the agent has failed to make available a copy of the power of attorney and/or a record of all receipts, disbursements, and transactions entered into by the agent on behalf of a principal to a person who may request such record pursuant to subparagraph three of paragraph (a) of subdivision two of § 5-1505 (Standard of care)section 5-1505 of this title, that person may commence a special proceeding to compel the agent to produce a copy of the power of attorney and such record.2.
A special proceeding may be commenced pursuant to this section for any of the following additional purposes:(a)
to determine whether the power of attorney is valid;(b)
to determine whether the principal had capacity at the time the power of attorney was executed;(c)
to determine whether the power of attorney was procured through duress, fraud or undue influence;(d)
to determine whether the agent is entitled to receive compensation or whether the compensation received by the agent is reasonable for the responsibilities performed;(e)
to approve the record of all receipts, disbursements and transactions entered into by the agent on behalf of the principal;(f)
to remove the agent upon the grounds that the agent has violated, or is unfit, unable, or unwilling to perform, the fiduciary duties under the power of attorney;(g)
to determine how multiple agents must act;(h)
to construe any provision of a power of attorney; or(i)
to compel acceptance of the power of attorney. A special proceeding may also be commenced by an agent who wishes to obtain court approval of his or her resignation.3.
A special proceeding may be commenced pursuant to subdivision two of this section by any person identified in subparagraph three of paragraph (a) of subdivision two of § 5-1505 (Standard of care)section 5-1505 of this title, the agent, the spouse, child or parent of the principal, the principal’s successor in interest, or any third party who may be required to accept a power of attorney.4.
If a power of attorney is suspended or revoked under this section, or the agent is removed by the court, the court may require the agent to provide a record of all receipts, disbursements and transactions entered into by the agent on behalf of the principal and to deliver any property belonging to the principal and copies of records concerning the principal’s property and affairs to a successor agent, a government entity or the principal’s legal representative.
Source:
Section 5-1510 — Special proceedings, https://www.nysenate.gov/legislation/laws/GOB/5-1510 (updated Jun. 18, 2021; accessed Dec. 21, 2024).
