5-1503 - Modifications of the statutory short form power of attorney and of the statutory gifts rider. - New York Statutes

§ 5-1503. Modifications of the statutory short form power of attorney and of the statutory gifts rider. A power of attorney which satisfies the requirements of paragraphs (a), (b) and (c) of subdivision one of section 5-1501B and section 5-1513 of this title is not prevented from being a "statutory short form power of attorney", and a document which satisfies the requirements of section 5-1514 of this title is not prevented from being a "statutory gifts rider" as either of these terms is used in the sections of this title, by the fact that it also contains additional language at the section labeled "modifications" which: 1. Eliminates from the statutory short form power of attorney or from the statutory gifts rider one or more of the powers enumerated in one or more of the constructional sections of this title with respect to a subdivision of the statutory short form power of attorney or of the statutory gifts rider, affirmatively chosen by the principal; or 2. Supplements one or more of the powers enumerated in one or more of the constructional sections in this title with respect to a subdivision of the statutory short form power of attorney or of the statutory gifts rider, affirmatively chosen by the principal, by specifically listing additional powers of the agent; or 3. Makes some additional provision which is not inconsistent with the other provisions of the statutory short form power of attorney or of the statutory gifts rider, including a provision revoking one or more powers of attorney previously executed by the principal.