reglab/statecodes huggingface dataset:
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 13 - Construction of Particular Terms in Contractual Transactions › 5-1301 - How Interest Calculated.

§ 5-1301. How  interest  calculated.  Whenever,  in  any statute, act,
  deed, written or verbal contract, or in any public or private instrument
  whatever, any certain rate of interest is or shall be mentioned, and  no
  period  of  time  is  stated  for  which  such rate is to be calculated,
  interest shall be calculated at the rate mentioned, by the year, in  the
  same  manner as if the words "per annum" or "by the year" had been added
  to such rate.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 13 - Construction of Particular Terms in Contractual Transactions › 5-1311 - Uniform Vendor and Purchaser Risk Act.

§ 5-1311. Uniform  vendor  and purchaser risk act. 1. Any contract for
  the purchase and sale or exchange of realty shall be interpreted, unless
  the contract expressly provides otherwise,  as  including  an  agreement
  that the parties shall have the following rights and duties:
a.  When  neither  the  legal  title nor the possession of the subject
  matter of the contract has been transferred to the purchaser: (1) if all
  or a material part thereof is destroyed without fault of  the  purchaser
  or  is  taken by eminent domain, the vendor cannot enforce the contract,
  and the purchaser is entitled to recover any portion of the  price  that
  he has paid; but nothing herein contained shall be deemed to deprive the
  vendor  of  any  right  to recover damages against the purchaser for any
  breach of contract by the purchaser prior to the destruction or  taking;
  (2)  if  an  immaterial  part  thereof is destroyed without fault of the
  purchaser or is taken by eminent domain,  neither  the  vendor  nor  the
  purchaser  is thereby deprived of the right to enforce the contract; but
  there shall be, to the extent of the destruction or taking, an abatement
  of the purchase price.
b. When either the legal title or the possession of the subject matter
  of the contract has been transferred to the purchaser,  if  all  or  any
  part  thereof  is  destroyed  without fault of the vendor or is taken by
  eminent domain, the purchaser is not thereby relieved from a duty to pay
  the price, nor is he thereby entitled to  recover  any  portion  thereof
  that  he  has  paid;  but  nothing  herein  contained shall be deemed to
  deprive the purchaser of any right to recover damages against the vendor
  for any breach of contract by the vendor prior  to  the  destruction  or
  taking.
2. This section shall be so interpreted and construed as to effectuate
  its  general purpose to make uniform the law of those states which enact
  it.
3. This section may be cited as the uniform vendor and purchaser  risk
  act.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 14 - Enforceability of Clauses Respecting Choice of Law and Choice of Forum in Certain Transactions › 5-1401 - Choice of Law.

§ 5-1401. Choice  of law. 1. The parties to any contract, agreement or
  undertaking, contingent or otherwise, in consideration of,  or  relating
  to any obligation arising out of a transaction covering in the aggregate
  not   less   than  two  hundred  fifty  thousand  dollars,  including  a
  transaction otherwise covered by subsection (a) of section 1--301 of the
  uniform commercial code, may agree that the  law  of  this  state  shall
  govern  their rights and duties in whole or in part, whether or not such
  contract, agreement or undertaking bears a reasonable relation  to  this
  state.  This  section  shall  not  apply  to  any contract, agreement or
  undertaking (a) for labor or personal  services,  (b)  relating  to  any
  transaction  for  personal,  family or household services, or (c) to the
  extent provided to the contrary in subsection (c) of section  1--301  of
  the uniform commercial code.
2.  Nothing  contained  in this section shall be construed to limit or
  deny the enforcement of any provision respecting choice of  law  in  any
  other contract, agreement or undertaking.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 14 - Enforceability of Clauses Respecting Choice of Law and Choice of Forum in Certain Transactions › 5-1402 - Choice of Forum.

§ 5-1402. Choice  of forum. 1. Notwithstanding any act which limits or
  affects the right of a person  to  maintain  an  action  or  proceeding,
  including, but not limited to, paragraph (b) of section thirteen hundred
  fourteen  of the business corporation law and subdivision two of section
  two hundred-b of the banking law, any person may maintain an  action  or
  proceeding against a foreign corporation, non-resident, or foreign state
  where the action or proceeding arises out of or relates to any contract,
  agreement  or  undertaking  for  which a choice of New York law has been
  made in whole or in part pursuant to section 5-1401 and which (a)  is  a
  contract,   agreement   or  undertaking,  contingent  or  otherwise,  in
  consideration of, or  relating  to  any  obligation  arising  out  of  a
  transaction  covering  in  the  aggregate,  not  less  than  one million
  dollars, and (b) which contains a provision or provisions  whereby  such
  foreign corporation or non-resident agrees to submit to the jurisdiction
  of the courts of this state.
2.  Nothing contained in this section shall be construed to affect the
  enforcement of any provision respecting choice of  forum  in  any  other
  contract, agreement or undertaking.
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 › 5-1501A - Power of Attorney Not Affected by Incapacity.

§ 5-1501A. Power of attorney not affected by incapacity. 1. A power of
  attorney  is  durable unless it expressly provides that it is terminated
  by the incapacity of the principal.
2. The subsequent incapacity  of  a  principal  shall  not  revoke  or
  terminate  the  authority  of an agent who acts under a durable power of
  attorney. All acts done during any period of the principal's  incapacity
  by  an agent pursuant to a durable power of attorney shall have the same
  effect and inure to the benefit of and bind a principal and his  or  her
  distributees, devisees, legatees and personal representatives as if such
  principal  had  capacity. If a guardian is thereafter appointed for such
  principal, such agent, during the continuance of the appointment,  shall
  account to the guardian rather than to such principal.
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 › 5-1502M - Construction--Tax Matters.

§ 5-1502M.  Construction--tax matters. In a statutory short form power
  of attorney, the language conferring general authority with  respect  to
  "tax  matters",  must be construed to mean that the principal authorizes
  the agent:
1. To prepare, sign, and  file  federal,  state,  local,  and  foreign
  income,  gift, payroll, federal insurance contributions act returns, and
  other tax returns, claims for refunds, requests for extension  of  time,
  petitions  regarding  tax  matters, and any other tax-related documents,
  including receipts, offers, waivers, consents  (including  consents  and
  agreements  under  United  States Internal Revenue Code Section 2032A or
  cognate provisions of any successor statute),  closing  agreements,  and
  any  power  of attorney required by the federal internal revenue service
  or other taxing authority with respect to a  tax  year  upon  which  the
  statute  of  limitations has not run and with respect to the tax year in
  which the power of  attorney  was  executed  and  with  respect  to  any
  subsequent tax year;
2. To pay taxes due, collect refunds, post bonds, receive confidential
  information,  and  contest  deficiencies determined by the United States
  Internal Revenue Service or other taxing authority;
3. To exercise any election available to the principal under  federal,
  state, local, or foreign tax law; and
4.  To  represent  the  principal,  or  to designate another person to
  represent the principal, in all tax matters for all tax  periods  before
  the  United  States  Internal  Revenue  Service  and  any  other  taxing
  authority.
The powers explicitly authorized in the  provisions  of  this  section
  shall  not  be  construed  to diminish any like powers authorized in any
  other section of  this  title,  such  as,  but  not  limited  to,  those
  authorized   in   subdivision  9  of  section  5-1502I  of  this  title.
  Accordingly, such powers as are authorized in any other section of  this
  title  shall  be  construed  as if the provisions of this section do not
  exist.
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 › 5-1502N - Construction--All Other Matters.

§  5-1502N. Construction--all other matters. In a statutory short form
  power of  attorney,  the  language  conferring  general  authority  with
  respect  to  "all  other  matters"  must  be  construed to mean that the
  principal authorizes the agent to act as an alter ego of  the  principal
  with  respect  to any and all possible matters and affairs which are not
  enumerated in sections 5-1502A to 5-1502M, inclusive, of this title, and
  which the principal can do through an  agent;  provided,  however,  that
  such  authority  shall  not  include  authorization  for  the  agent  to
  designate a third party to act as agent for the  principal  or  to  make
  medical  or  other  health  care  decisions for the principal, except as
  otherwise provided in subdivision one of section 5-1502K of this title.
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 › 5-1503 - Modifications of the Statutory Short Form Power of Attorney.

§ 5-1503. Modifications of the statutory short form power of attorney.
  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", 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 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, 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, 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,
  including a provision revoking one or more powers of attorney previously
  executed by the principal.
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 › 5-1506 - Compensation.

§  5-1506.  Compensation.  1.  An  agent  is  not  entitled to receive
  compensation from the  assets  of  the  principal  for  responsibilities
  performed  under  a  power of attorney unless the principal specifically
  provides for compensation in the power of attorney.
2. An agent shall be entitled to receive reimbursement from the assets
  of the principal for reasonable expenses actually incurred in connection
  with the performance of the agent's responsibilities.
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 › 5-1507 - Signature of Agent.

§ 5-1507.  Signature  of  agent.  1.  (a) In any transaction where the
agent  is  acting  pursuant  to  a  power  of  attorney  and  where  the
hand-written  signature of the agent or principal is required, the agent
shall disclose the principal and agent relationship by:
(1) signing "(name of agent) as agent for (name of principal)"; or
(2) signing "(name of principal) by (name of agent), as agent"; or
(3)  any  similar  written  disclosure  of  the  principal  and  agent
relationship.
(b)  A  third party shall incur no liability for accepting a signature
that does not meet the requirements of this subdivision.
2. When the agent engages in a transaction on behalf of the principal,
the agent is attesting that:
(a) the agent has actual authority to engage in the transaction;
(b) the agent does not have, at the time of  the  transaction,  actual
notice  of  the  termination  or revocation of the power of attorney, or
notice of any facts indicating that  the  power  of  attorney  has  been
terminated or revoked;
(c)  if  the  power  of  attorney  is  one  which  terminates upon the
principal's incapacity, the agent does not have,  at  the  time  of  the
transaction  actual  notice  of the principal's incapacity, or notice of
any facts indicating the principal's incapacity.
(d) the agent does not have, at the time of  the  transaction,  actual
notice  that  the  power  of  attorney has been modified in any way that
would affect the ability of the agent to engage in the  transaction,  or
notice  of  any  facts indicating that the power of attorney has been so
modified.
3. The attestation of the agent pursuant to subdivision  two  of  this
section  is  not  effective  as to any third party who had actual notice
that the power of attorney had terminated or been revoked prior  to  the
transaction.
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 › 5-1508 - Co-Agents and Successor Agents.

§ 5-1508. Co-agents and successor agents. 1. A principal may designate
  two  or  more persons to act as co-agents. Unless the principal provides
  otherwise in the power of attorney,  the  co-agents  must  act  jointly.
  However,  if  prompt  action  is required to accomplish a purpose of the
  power of attorney and to avoid irreparable  injury  to  the  principal's
  interest  and  a  co-agent is unavailable because of absence, illness or
  other temporary incapacity, the other co-agent or co-agents may act  for
  the  principal.  Unless the principal provides otherwise in the power of
  attorney, if a vacancy occurs  because  of  the  death,  resignation  or
  incapacity  of a co-agent, the remaining agent or agents may act for the
  principal.
2. A principal may designate one or more successor agents to serve, if
  any initial or predecessor agent resigns, dies,  becomes  incapacitated,
  is  not  qualified  to  serve or declines to serve. Unless the principal
  provides otherwise in the power of attorney, a successor agent  has  the
  same  authority  as  that  granted  to an initial agent. A principal may
  provide for specific succession rules.
3. A co-agent or a successor agent acting under a  power  of  attorney
  shall  have  the  authority  to  request,  receive  and seek to compel a
  co-agent or predecessor agent to  provide  a  record  of  all  receipts,
  disbursements  and  transactions  entered into by the agent on behalf of
  the principal.
4. Any person, other than an estate or a trust, may act as  an  agent,
  co-agent or successor agent under a power of attorney.
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 › 5-1509 - Appointment of Monitor.

§ 5-1509. Appointment of monitor. A principal may appoint a monitor or
  monitors  in  the  power  of  attorney  who  shall have the authority to
  request, receive and compel  the  agent  to  provide  a  record  of  all
  receipts,  disbursements  and  transactions entered into by the agent on
  behalf of the principal, to request and receive  such  records  held  by
  third  parties,  and  to  request  and  receive  a  copy of the power of
  attorney. Nothing in this title shall be construed to impose a fiduciary
  duty on the monitor.
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 › 5-1510 - Special Proceedings.

§ 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 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 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.
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 › 5-1512 - Powers of Attorney Executed in Other Jurisdictions.

§ 5-1512.   Powers   of  attorney  executed  in  other  jurisdictions.
  Notwithstanding the provisions of section 5-1501B of this title, a power
  of attorney executed in another state or jurisdiction in compliance with
  the law of that state or jurisdiction or the law of this state is  valid
  in  this  state, regardless of whether the principal is a domiciliary of
  this state. A power of attorney that complies with  section  5-1501B  of
  this  title  and  is  executed  in  another  state  or jurisdiction by a
  domiciliary of this state is valid in this state. A  power  of  attorney
  executed in this state by a domiciliary of another state or jurisdiction
  in  compliance  with the law of that state or jurisdiction or the law of
  this state is valid in this state.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 15-A - Designation of Person in Parental Relation › 5-1551 - Power of Parent to Designate a Person in Parental Relation.

§  5-1551. Power of parent to designate a person in parental relation.
  A parent of a minor or incapacitated person may designate another person
  as a person in parental relation to such minor or  incapacitated  person
  pursuant  to  sections  twenty-one  hundred  sixty-four  and twenty-five
  hundred four of the public health law and sections  two  and  thirty-two
  hundred  twelve  of  the education law for a period not exceeding twelve
  months provided that there is  no  prior  order  of  any  court  in  any
  jurisdiction  currently  in  effect that would prohibit such parent from
  himself or  herself  exercising  the  same  or  similar  authority,  and
  provided  further, that, in the case where a court has ordered that both
  parents must agree on education or health decisions regarding the child,
  a designation pursuant to this subdivision shall  not  be  valid  unless
  both  parents  have  consented thereto. Such designation shall be in the
  form prescribed by section 5-1552 of this title, and may be presented to
  any school, health care provider  or  health  plan  that  requires  such
  designation by either the parent or the designee.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 15-A - Designation of Person in Parental Relation › 5-1552 - Form of Designation.

§   5-1552.  Form  of  designation.  1.  Designations  in  general.  A
  designation of a person in parental  relation  pursuant  to  this  title
  shall  be in writing and shall include: the name of the parent, the name
  of the designee, the name of each minor  or  incapacitated  person  with
  respect  to  whom  such designation is made, the parent's signature, and
  the date of such signature. The designation may specify a period of time
  less than twelve months for which such designation shall be valid unless
  earlier revoked by such parent pursuant to section 5-1554 of this title,
  provided that any designation specifying a period of  more  than  thirty
  days  shall  also  conform  to the provisions of subdivision two of this
  section.
2. Designations for more than thirty days. A designation specifying  a
  period  of  more  than  thirty  days  shall also include: an address and
  telephone number where  the  parent  can  be  reached,  an  address  and
  telephone number where the designee can be reached, the date of birth of
  each minor or incapacitated person with respect to whom such designation
  is  made,  the  date  or  contingent  event  on  which  the  designation
  commences, the written consent of the designee to such designation,  and
  a  statement  that  there  is  no  prior  order  of  any  court  in  any
  jurisdiction currently in effect prohibiting such parent from making the
  designation. A designation specifying a period of more than thirty  days
  shall be notarized.
3.  Designations  not  specifying  a time period. If no time period is
  specified in a designation, it shall  be  valid  until  the  earlier  of
  revocation  or  the expiration of thirty days from the date of signature
  if the designation does not meet the requirements of subdivision two  of
  this  section,  or twelve months from the date of commencement specified
  therein if the designation meets the requirements of subdivision two  of
  this section.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 15-A - Designation of Person in Parental Relation › 5-1553 - Scope of Designation.

§  5-1553.  Scope of designation. A designation pursuant to this title
  may specify: the treatment, diagnosis or activities for which consent is
  authorized; any treatment, diagnosis or activity for  which  consent  is
  not   authorized;   or   any   other   limitation   on  the  duties  and
  responsibilities conveyed by the designation.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 15-A - Designation of Person in Parental Relation › 5-1554 - Revocation of Designation.

§ 5-1554. Revocation of designation. A parent may revoke a designation
  by  notifying,  either  orally  or in writing, the designee or a school,
  health care provider, or health plan to which the designation  has  been
  presented,  or  by  any other act evidencing a specific intent to revoke
  the designation. A designation shall also be revoked upon the  execution
  by  the  parent  of  a  subsequent designation. Revocation by one parent
  authorized to execute such a designation shall be deemed  effective  and
  complete  revocation of a designation pursuant to this title. A designee
  who receives notification from a parent of  any  such  revocation  shall
  forthwith  notify  any  school,  health  care provider or health plan to
  which a designation pursuant to this title has been presented. A  parent
  may directly notify any such school, health care provider or health plan
  of  the  revocation, in which case the failure of the designee to notify
  such entities of the revocation shall not make revocation ineffective.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 15-A - Designation of Person in Parental Relation › 5-1555 - Effect of Designation.

§  5-1555.  Effect of designation. 1. A designee shall possess all the
  powers and duties of a person in parental relation pursuant to  sections
  twenty-one hundred sixty-four and twenty-five hundred four of the public
  health  law  and  sections  two  and  thirty-two  hundred  twelve of the
  education law, unless otherwise specified in the designation.
2. A designation shall not impose upon a designee a  duty  to  support
  pursuant to section four hundred thirteen of the family court act.
3.  A  designation  shall not cause a change in the school district of
  residence of the child for purposes of the education law, and during the
  period of validity of the designation, the child shall be presumed to be
  a resident of the school district in which the  parent  resided  at  the
  time the designation was made.
4.  A designation shall terminate and be deemed revoked upon the death
  or incapacity of the parent who signed the designation.
5. The decision of a designee shall be superseded  by  a  contravening
  decision of a parent.
6.  A  person who acts based upon the consent of a designee reasonably
  and in the good faith belief that the parent has in fact authorized  the
  designee  to  provide  such  consent  pursuant to the provisions of this
  title, may not be deemed to  have  acted  negligently,  unreasonably  or
  improperly  in  accepting  the designation and acting upon such consent;
  provided, however, that any such person may  be  deemed  to  have  acted
  negligently,  unreasonably  or  improperly if he or she has knowledge of
  facts indicating that the designation was never given, or did not extend
  to an act or acts in question, or was revoked.
7.  No  provision  of  this  title  shall  be  construed  to   require
  designation  of  a person in parental relation as provided in this title
  where such designation  is  not  otherwise  required  by  law,  rule  or
  regulation.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 16 - Continuity of Contract › 5-1601 - Definitions.

§ 5-1601. Definitions. As used in this title the following terms shall
  have the following meanings:
1.  "Euro"  shall  mean the currency of participating member states of
  the European Union that adopt a single currency in accordance  with  the
  treaty  on  European  Union  signed  February  seventh, nineteen hundred
  ninety-two.
2.  "Introduction  of  the  euro"   shall   mean   and   include   the
  implementation  from  time  to  time  of  economic and monetary union in
  member states of the European Union in accordance  with  the  treaty  on
  European Union signed February seventh, nineteen hundred ninety-two.
3.  "ECU"  or  "European Currency Unit" shall mean the currency basket
  that is from time to time used as the unit of account  of  the  European
  Community  as  defined in European Council Regulation No.  3320/94. When
  the euro first becomes the monetary unit of participating member  states
  of  the European Union, references to the ECU in a contract, security or
  instrument that also refers to such  definition  of  the  ECU  shall  be
  replaced  by  references  to  the euro at a rate of one euro to one ECU.
  References to the ECU in a contract, security or instrument without such
  a definition of the ECU shall be presumed, unless either demonstrated or
  proven to the contrary by the intention of the parties, to be references
  to the currency basket that is from time to time used  as  the  unit  of
  account of the European Community.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 16 - Continuity of Contract › 5-1602 - Continuity of Contract.

§  5-1602.  Continuity  of  contract. 1. (a) If a subject or medium of
payment of a contract, security or instrument is  a  currency  that  has
been   substituted  or  replaced  by  the  euro,  the  euro  will  be  a
commercially reasonable substitute and substantial equivalent  that  may
be  either:  (i) used in determining the value of such currency; or (ii)
tendered, in  each  case  at  the  conversion  rate  specified  in,  and
otherwise  calculated in accordance with, the regulations adopted by the
council of the European Union.
(b) If a subject or medium of  payment  of  a  contract,  security  or
instrument  is  the  ECU,  the  euro  will  be a commercially reasonable
substitute and substantial equivalent that may be either:  (i)  used  in
determining  the value of the ECU; or (ii) tendered, in each case at the
conversion rate specified in, and  otherwise  calculated  in  accordance
with, the regulations adopted by the Council of the European Union.
(c)  Performance  of any of the obligations described in paragraph (a)
or (b) of this subdivision may be made in  the  currency  or  currencies
originally  designated in such contract, security or instrument (so long
as such currency or currencies remain legal tender) or in euro, but  not
in  any  other currency, whether or not such other currency (i) has been
substituted or replaced by the euro  or  (ii)  is  a  currency  that  is
considered  a  denomination  of the euro and has a fixed conversion rate
with respect to the euro.
2. None of: (a) the introduction of the euro;  (b)  the  tendering  of
euros in connection with any obligation in compliance with paragraph (a)
or  (b)  of  subdivision one of this section; (c) the determining of the
value of any obligation in compliance  with  paragraph  (a)  or  (b)  of
subdivision  one  of this section; or (d) the calculating or determining
of the  subject  or  medium  of  payment  of  a  contract,  security  or
instrument  with  reference  to  interest  rate  or other basis has been
substituted or replaced due to the introduction of the euro and that  is
a  commercially  reasonable substitute and substantial equivalent, shall
either have the effect of discharging or excusing performance under  any
contract,  security  or  instrument,  or  give  a  party  the  right  to
unilaterally alter or terminate any contract, security or instrument.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 16 - Continuity of Contract › 5-1603 - Effect of Agreements.

§ 5-1603. Effect of agreements. The provisions of this title shall not
  alter  or  impair and shall be subject to any agreements between parties
  with specific reference to or agreement regarding  the  introduction  of
  the euro.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 16 - Continuity of Contract › 5-1604 - Application.

§  5-1604. Application. 1. Notwithstanding the uniform commercial code
  or any other law of this state, this title shall apply to all contracts,
  securities  and  instruments,  including  contracts  with   respect   to
  commercial  transactions, and shall not be deemed to be displaced by any
  other law of this state.
2.  In  circumstances  of  currency   alteration,   other   than   the
  introduction  of  the  euro,  the  provisions of this title shall not be
  interpreted as creating any negative inference or  negative  presumption
  regarding  the  validity  or  enforceability of contracts, securities or
  instruments denominated in whole or in part in a  currency  affected  by
  such alteration.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 17 - Structured Settlement Protection Act › 5-1702 - Initial Disclosure of Structured Settlement Terms.

§  5-1702.  Initial  disclosure  of  structured  settlement  terms. In
negotiating a structured settlement of claims brought by or on behalf of
a claimant who is domiciled in this state, the defendant or  defendant's
legal  representative  shall  disclose in writing to the claimant or the
claimant's legal representative all of the following information that is
not otherwise specified in the structured settlement agreement:
(a) the amounts and due dates of the  periodic  payments  to  be  made
under  the structured settlement agreement. In the case of payments that
will be subject to periodic percentage increases, the amounts of  future
payments  may  be  disclosed by identifying the base payment amount, the
amount and timing of  scheduled  increases,  and  the  manner  in  which
increases will be compounded;
(b) the amount of the premium payable to the annuity issuer;
(c) the nature and amount of any cost that may be deducted from any of
the periodic payments;
(d)  where  applicable,  that any transfer of the periodic payments is
prohibited by the terms of the structured settlement and  may  otherwise
be prohibited or restricted under applicable law; and
(e)  a  statement  that  the claimant is advised to obtain independent
professional  advice  relating  to  the   legal,   tax   and   financial
implications  of  the settlement, including any adverse consequences and
that the defendant or defendant's legal representative may not refer any
advisor, attorney or firm for such purpose.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 17 - Structured Settlement Protection Act › 5-1703 - Required Disclosures to Payee.

§  5-1703. Required disclosures to payee. Not less than ten days prior
to the  date  on  which  the  payee  signs  a  transfer  agreement,  the
transferee  shall provide to the payee by first class mail and certified
mail, return receipt requested or United States postal service  priority
mail,  a  separate  disclosure  statement,  in bold type no smaller than
fourteen points, setting forth:
(a) the amounts and due dates of the structured settlement payments to
be transferred;
(b) the aggregate amount of such payments;
(c) the discounted present value of the payments  to  be  transferred,
which  shall  be  identified as the "calculation of current value of the
transferred structured settlement payments under federal  standards  for
valuing  annuities",  and the amount of the applicable federal rate used
in calculating such discounted present value;
(d) the price quote from the original annuity issuer or, if such price
quote is not readily available from the original annuity issuer, then  a
price  quote  from  two  other annuity issuers that reflects the current
cost of purchasing a comparable annuity  for  the  aggregate  amount  of
payments to be transferred;
(e)  the gross advance amount and the annual discount rate, compounded
monthly, used to determine such figure;
(f) an itemized listing of all commissions, fees, costs, expenses  and
charges  payable  by  the  payee  or  deductible  from  the gross amount
otherwise payable to the payee and the total amount of such fees;
(g) the net advance amount including  the  statement:  "The  net  cash
payment you receive in this transaction from the buyer was determined by
applying  the  specified  discount rate to the amount of future payments
received by the buyer, less  the  total  amount  of  commissions,  fees,
costs, expenses and charges payable by you";
(h)  the  amount of any penalties or liquidated damages payable by the
payee in the event of any breach of the transfer agreement by the payee;
and
(i) a statement that the payee has the right to  cancel  the  transfer
agreement,  without  penalty  or  further obligation, not later than the
third business day after the date the agreement is signed by the payee.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 17 - Structured Settlement Protection Act › 5-1704 - Provisions Prohibited in Transfer Agreement.

§  5-1704.  Provisions  prohibited  in transfer agreement. No transfer
agreement or other document or agreement executed  in  association  with
the  transfer  shall contain any provision described in this section. To
the extent that  a  prohibited  provision  is  included  in  a  transfer
agreement  such  provision shall be void and unenforceable. A prohibited
provision is:
(a) any provision that waives the payee's right to sue under any  law,
or  where  the  payee agrees not to sue, or which waives jurisdiction or
standing to sue under the transfer agreement;
(b) any provision that  requires  the  payee  to  indemnify  and  hold
harmless the transferee, or to pay the transferee's costs of defense, in
any  claim  or  action  brought  by  the  payee on or the payee's behalf
contesting the transfer for any reason;
(c) any provision that requires the  payee  to  pay  the  transferee's
attorney's  fees  or  costs if the transfer contemplated by the transfer
agreement is not completed; and
(d) any provision that requires the payee to  pay  any  tax  liability
arising  under  federal  tax  laws,  other  than  the  seller's  own tax
liability, if any, that results from the transfer.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 17 - Structured Settlement Protection Act › 5-1705 - Procedure for Approval of Transfers.

§  5-1705.  Procedure  for  approval  of  transfers. (a) An action for
approval of a transfer of a structured settlement shall be by a  special
proceeding brought on only by order to show cause.
(b)  Such  proceeding  shall  be  commenced  to  obtain  approval of a
transfer of structured settlement payment rights. Such proceeding  shall
be commenced:
(i) in the supreme court of the county in which the payee resides; or
(ii) in any court which approved the structured settlement agreement.
(c)  A  copy  of  the order to show cause and petition shall be served
upon all interested parties at least twenty  days  before  the  time  at
which the petition is noticed to be heard. A response shall be served at
least seven days before the petition is noticed to be heard.
(d)  A  petition  for  approval of a transfer of structured settlement
payment rights shall include:
(i) a copy of the transfer agreement;
(ii) a copy of the disclosure statement and proof of  notice  of  that
statement required under section 5-1703 of this title;
(iii)  a listing of each of the payee's dependents, together with each
dependent's age; and
(iv) a statement setting forth whether there have  been  any  previous
transfers  or  applications  for  transfer  of the structured settlement
payment rights and giving details of all such transfers or  applications
for transfer.
(e)  On  the  hearing,  the payee shall attend before the court unless
attendance is excused for good cause.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 17 - Structured Settlement Protection Act › 5-1706 - Approval of Transfers of Structured Settlement Payment Rights.

§  5-1706.  Approval  of  transfers  of  structured settlement payment
rights.  No direct or indirect transfer of structured settlement payment
rights shall be  effective  and  no  structured  settlement  obligor  or
annuity  issuer  shall  be  required  to  make  any  payment directly or
indirectly to any transferee of  structured  settlement  payment  rights
unless the transfer has been authorized in advance in a final order of a
court  of  competent  jurisdiction  based  upon express findings by such
court that:
(a) the transfer complies with the requirements of this title;
(b) the transfer is in the best interest of  the  payee,  taking  into
account  the  welfare and support of the payee's dependants; and whether
the transaction, including the discount rate used to determine the gross
advance amount and the fees and  expenses  used  to  determine  the  net
advance  amount,  are  fair and reasonable. Provided the court makes the
findings as outlined in this subdivision, there is  no  requirement  for
the  court  to  find  that  an applicant is suffering from a hardship to
approve the  transfer  of  structured  settlement  payments  under  this
subdivision;
(c)  the  payee  has been advised in writing by the transferee to seek
independent professional advice regarding the transfer  and  has  either
received such advice or knowingly waived such advice in writing;
(d)  the  transfer  does  not contravene any applicable statute or the
order of any court or other government authority; and
(e) is written in plain language and in compliance with section  5-702
of this article.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 17 - Structured Settlement Protection Act › 5-1707 - Effects of Transfer of Structured Settlement Payment Rights.

§ 5-1707. Effects of transfer of structured settlement payment rights.
Following  a transfer of structured settlement payment rights under this
title:
(a) The structured settlement obligor and the annuity issuer shall, as
to all parties except the transferee, be discharged  and  released  from
any and all liability for the transferred payments;
(b)  The  transferee  shall  be  liable  to  the structured settlement
obligor and the annuity issuer:
(i)  if  the  transfer  contravenes  the  terms  of   the   structured
settlement,  for  any taxes incurred by such parties as a consequence of
the transfer; and
(ii) for any other liabilities or costs,  including  reasonable  costs
and  attorneys'  fees,  arising from compliance by such parties with the
order of the court or arising  as  a  consequence  of  the  transferee's
failure to comply with this title;
(c)  Neither  the annuity issuer nor the structured settlement obligor
may be required to divide any periodic payment between the payee and any
transferee or assignee or between two or more transferees or  assignees;
and
(d)  Any  further  transfer of structured settlement payment rights by
the payee may be made only after compliance with all of the requirements
of this title.
2023 New York Laws › GOB - General Obligations › Article 5 - Creation, Definition and Enforcement of Contractual Obligations › Title 17 - Structured Settlement Protection Act › 5-1708 - General Provisions; Construction.

§ 5-1708. General provisions; construction. (a) The provisions of this
title may not be waived by any payee.
(b) Any transfer agreement entered into on or after the effective date
of  this  title  by a payee who resides in this state shall provide that
disputes under such transfer agreement, including  any  claim  that  the
payee  has  breached the agreement, shall be determined in and under the
laws of this state. No  such  transfer  agreement  shall  authorize  the
transferee or any other party to confess judgment or consent to entry of
judgment against the payee.
(c)  No  transfer of structured settlement payment rights shall extend
to any payments that are life-contingent unless, prior to  the  date  on
which  the  payee  signs  the  transfer  agreement,  the  transferee has
established  and  has   agreed   to   maintain   procedures   reasonably
satisfactory to the annuity issuer and the structured settlement obligor
for  (i)  periodically  confirming the payee's survival, and (ii) giving
the annuity issuer and the structured settlement obligor prompt  written
notice in the even of the payee's death.
(d)  No payee who proposes to make a transfer of structured settlement
payment rights shall incur any penalty, forfeit any application  fee  or
other  payment,  or  otherwise  incur  any  liability  to  the  proposed
transferee or any assignee based on any  failure  of  such  transfer  to
satisfy the conditions of this title.
(e)  Nothing  contained  in this title shall be construed to authorize
any transfer of structured settlement payment rights in contravention of
any statute or to imply that any transfer  under  a  transfer  agreement
entered  into  prior  to  the  effective  date of this title is valid or
invalid.
(f) Compliance with the requirements set forth in  section  5-1703  of
this title and fulfillment of the conditions set forth in section 5-1705
of  this  title  shall be solely the responsibility of the transferee in
any transfer of structured settlement payment rights,  and  neither  the
structured  settlement  obligor  nor  the  annuity issuer shall bear any
responsibility for, or any liability arising from,  non-compliance  with
such requirements or failure to fulfill such conditions.
(g)  The  assignee of any transfer agreement or any agreement executed
in connection therewith, shall be subject to all claims and defenses  of
the  payee  against  the transferee arising from such transfer agreement
notwithstanding any agreement to the contrary. Recovery hereunder by the
payee shall not exceed the amount owing to the assignee at the time  the
claim  or  defense is asserted against the assignee. Rights of the payee
under this provision can be asserted affirmatively against  a  claim  by
the assignee.