2010 New York Code
GOB - General Obligations
Article 5 - CREATION, DEFINITION AND ENFORCEMENT OF CONTRACTUAL OBLIGATIONS
Title 15 - (5-1501 - 5-1514) 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 unless such
  creation, modification or revocation is a gift transaction  governed  by
  section 5-1514 of this title 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  unless
  such creation, modification or revocation is a gift transaction governed
  by section 5-1514 of this title, 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.