NY Gen Oblig L § 5-1502C (2021)
2021 New York Laws GOB - General Obligations Article 5 - Creation, Definition and Enforcement of Contractual Obligations Title 15 - Statutory Short Form and Other Powers of Attorney for Financial and Estate Planning 5-1502C - Construction--Bond, Share and Commodity Transactions.

§ 5-1502C. Construction--bond,  share and commodity transactions. In a   statutory short form power of attorney, the language conferring  general   authority with respect to "bond, share and commodity transactions," must   be construed to mean that the principal authorizes the agent:1.  To  accept  as  a  gift,  or as security for a loan, to reject, to   demand, to buy, to receive, or otherwise to acquire either ownership  or   possession  of,  any  bond,  share,  instrument  of  similar  character,   commodity interest or any instrument with respect thereto, together with   the interest,  dividends,  proceeds  or  other  distributions  connected   therewith;2.  To  sell  (including short sales), to exchange, to transfer either   with or without a guaranty, to release, to surrender, to hypothecate, to   pledge, to create, modify or revoke a trust to grant options concerning,   to loan, to trade in, or  otherwise  to  dispose  of  any  bond,  share,   instrument  of  similar  character, commodity interest or any instrument   with respect thereto;3. To release in whole or in part, to assign the whole or a  part  of,   to  satisfy in whole or in part, and to enforce by action, proceeding or   otherwise, any pledge, incumbrance, lien or other claim as to any  bond,   share,  instrument  of  similar  character,  commodity  interest  or any   interest with respect thereto, when such pledge,  incumbrance,  lien  or   other claim is owned, or claimed to be owned, by the principal;4.  To do any act of management or of conservation with respect to any   bond, share, instrument of similar character, commodity interest or  any   instrument  with  respect  thereto,  owned or claimed to be owned by the   principal or in which the principal has or claims to have  an  interest,   including  by  way  of  illustration,  but  not of restriction, power to   insure against any casualty, liability or loss, to obtain or  to  regain   possession  or  to  protect  the principal's interest therein by action,   proceeding or otherwise, to pay, to compromise or to  contest  taxes  or   assessments, to apply for refunds in connection therewith, to consent to   and to participate in any reorganization, recapitalization, liquidation,   merger, consolidation, sale or lease, or other change in or revival of a   corporation  or  other association, or in the financial structure of any   corporation or other association, or in the priorities, voting rights or   other special rights with respect thereto, to become  a  depositor  with   any  protective, reorganization or similar committee of the bond, share,   other  instrument  of  similar  character,  commodity  interest  or  any   instrument with respect thereto, belonging to the principal, to make any   payments  reasonably  incident  to the foregoing, to exercise or to sell   any option, conversion or similar right, to vote in  person  or  by  the   granting  of a proxy (with or without the power of substitution), either   discretionary, general or otherwise, for the accomplishment  of  any  of   the purposes enumerated in this section;5.  To  carry  in  the  name  of  a  nominee selected by the agent any   evidence of the ownership  of  any  bond,  share,  other  instrument  of   similar   character,  commodity  interest  or  instrument  with  respect   thereto, belonging to the principal;6. To employ, in any way believed to be desirable by  the  agent,  any   bond,  share,  other instrument of similar character, commodity interest   or any instrument with respect thereto, in which the  principal  has  or   claims  to  have any interest, for the protection or continued operation   of any speculative or margin transaction personally begun or  personally   guaranteed, in whole or in part, by the principal;7.  To  demand,  to  receive,  to  obtain  by  action,  proceeding  or   otherwise, any money or other thing of value to which the principal  is,   or  may  become,  or  may  claim  to  be entitled as the proceeds of any   interest in a  bond,  share,  other  instrument  of  similar  character,    commodity  interest or any instrument with respect thereto, or of one or   more of the transactions enumerated in this  section,  to  conserve,  to   invest,  to  disburse  or  to  utilize anything so received for purposes   enumerated  in  this  section,  and  to  reimburse  the  agent  for  any   expenditures properly made  by  him  in  the  execution  of  the  powers   conferred on him by the statutory short form power of attorney;8.  To  agree  and  to contract, in any manner, and with any broker or   other person, and on any terms, which the  agent  may  select,  for  the   accomplishment of any of the purposes enumerated in this section, and to   perform,  to  rescind,  to  reform,  to  release  or  to modify any such   agreement or contract or any other  similar  agreement  made  by  or  on   behalf of the principal;9.  To  execute,  to  acknowledge, to seal and to deliver any consent,   agreement, authorization, creation,  modification  or  revocation  of  a   trust,  assignment, notice, waiver of notice, check, or other instrument   which the agent may think useful for the accomplishment of  any  of  the   purposes enumerated in this section;10.  To  execute, to acknowledge and to file any report or certificate   required by law or governmental regulation;11.  To  prosecute,  to  defend,  to  submit  to  alternative  dispute   resolution,  to  settle  and  to  propose or to accept a compromise with   respect to, any claim existing in favor of, or  against,  the  principal   based  on  or  involving  any bond, share or commodity transaction or to   intervene in any action or proceeding relating thereto;12. To hire, to discharge, and to compensate any attorney, accountant,   expert witness or other assistant or assistants  when  the  agent  shall   think such action to be desirable for the proper execution by him of any   of  the  powers described in this section, and for the keeping of needed   records thereof; and13. In general, and in addition to  all  the  specific  acts  in  this   section enumerated, to do any other act or acts, which the principal can   do  through an agent, with respect to any interest in any bond, share or   other instrument of similar character,  commodity,  or  instrument  with   respect to a commodity.All   powers   described  in  this  section  5-1502C  of  the  general   obligations law  shall  be  exercisable  equally  with  respect  to  any   interest  in  any  bond, share or other instrument of similar character,   commodity, or instrument with  respect  to  a  commodity  owned  by  the   principal at the giving of the power of attorney or thereafter acquired,   whether located in the state of New York or elsewhere.