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
5-1502C - 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  unless  such  creation,
  modification  or  revocation  is  a gift transaction governed by section
  5-1514 of this title, 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 unless such creation, declaration, modification or revocation is a
  gift transaction governed by section 5-1514 of this  title,  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; and
    13. 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.