2023 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 › 5-1502B - Construction--Chattel and Goods Transactions.

§ 5-1502B. Construction--chattel   and   goods   transactions.   In  a
  statutory short form power of attorney, the language conferring  general
  authority  with  respect  to  "chattel  and goods 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 chattel or goods or any interest in  any  chattel  or
  goods;
2.  To  sell, to exchange, to convey either with or without covenants,
  to release, to surrender,  to  mortgage,  to  incumber,  to  pledge,  to
  hypothecate,  to  pawn,  to  create,  modify  or revoke a trust to grant
  options concerning, to lease or to sublet to  others,  or  otherwise  to
  dispose of any chattel or goods or any interest in any chattel or goods;
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 mortgage, incumbrance, lien or other claim, which exists,
  or  is  claimed to exist, in favor of the principal, with respect to any
  chattel or goods or any interest in any chattel or goods;
4. To do any act of management or of conservation, with respect to any
  chattel or goods or to any interest in any chattel or  goods  owned,  or
  claimed to be owned, by the principal, 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  such  chattel
  or  goods  or interest in any chattel or goods, by action, proceeding or
  otherwise, to pay, to compromise or to contest taxes or assessments,  to
  apply  for refunds in connection therewith, to move from place to place,
  to store for hire or on a gratuitous bailment, to use, to alter, and  to
  make repairs or alterations of any such chattel or goods, or interest in
  any chattel or goods;
5.  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 a chattel
  or goods or of any interest in any chattel or goods, 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;
6. To agree and to contract, in any manner, and with any 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  or  contract  made  by  or  on  behalf  of  the
  principal;
7.  To execute, to acknowledge, to seal and to deliver any conveyance,
  mortgage, lease,  creation,  revocation  or  modification  of  a  trust,
  notice,  check  or other instrument which the agent may think useful for
  the accomplishment of any of the purposes enumerated in this section;
8.  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 chattel or goods transaction or to intervene
  in any action or proceeding relating thereto;
9. 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; and
10.  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 chattel or goods or interest in
  any chattel or goods.
All   powers   described  in  this  section  5-1502B  of  the  general
  obligations law shall be exercisable equally with respect to any chattel
  or goods or interest in any chattel or goods owned by the  principal  at
  the  giving of the power of attorney or thereafter acquired, and whether
  located in the state of New York or elsewhere.