§ 5-1504. Acceptance of and reliance upon acknowledged and witnessed\nstatutory short form power of attorney. 1. (a) For purposes of this\nsection, "acknowledged" means purportedly verified before a notary\npublic or other individual authorized to take acknowledgements. For\npurposes of this section, "witnessed" means purportedly witnessed by two\npersons who are not named in the instrument as agents or as permissible\nrecipients of gifts.\n (b) A person that in good faith accepts an acknowledged and witnessed\npower of attorney without actual knowledge that the signature is not\ngenuine may rely upon the presumption that the signature is genuine.\n (c) A person that in good faith accepts an acknowledged and witnessed\npower of attorney without actual knowledge that the power of attorney is\nvoid, invalid, or terminated, that the purported agent's authority is\nvoid, invalid, or terminated, or that the agent is exceeding or\nimproperly exercising the agent's authority may rely upon the power of\nattorney as if the power of attorney were genuine, valid and still in\neffect, the agent's authority were genuine, valid and still in effect,\nand the agent had not exceeded and had properly exercised the authority.\n (d) A person that is asked to accept an acknowledged and witnessed\npower of attorney may request, and rely upon, without further\ninvestigation:\n (1) an agent's certification under penalty of perjury of any factual\nmatter concerning the principal, agent or power of attorney; and\n (2) an opinion of counsel as to any matter of law concerning the power\nof attorney if the person making the request provides in a writing or\nother record the reason for the request.\n (e) An opinion of counsel requested under this section must be\nprovided at the principal's expense unless the request is made more than\nten business days after the power of attorney is presented for\nacceptance.\n (f) For purposes of this section, a person that conducts activities\nthrough employees is without actual knowledge of a fact relating to a\npower of attorney, a principal, or an agent if the employee conducting\nthe transaction involving the power of attorney is without actual\nknowledge of the fact after making reasonable inquiry with respect\nthereto.\n 2. No third party located or doing business in this state shall\nrefuse, without reasonable cause, to honor a statutory short form power\nof attorney properly executed in accordance with section 5-1501B of this\ntitle, or a statutory short form power of attorney properly executed in\naccordance with the laws in effect at the time of its execution.\n (a) Reasonable cause under this subdivision shall include, but not be\nlimited to:\n (1) the refusal by the agent to provide an original power of attorney\nor a copy certified by an attorney pursuant to section twenty-one\nhundred five of the civil practice law and rules, or by a court or other\ngovernment entity;\n (2) the third party's good faith referral of the principal and the\nagent or a person acting for or with the agent to the local adult\nprotective services unit;\n (3) actual knowledge of a report having been made by any person to the\nlocal adult protective services unit alleging physical or financial\nabuse, neglect, exploitation or abandonment of the principal by the\nagent or a person acting for or with the agent;\n (4) actual knowledge of the principal's death or a reasonable basis\nfor believing the principal has died;\n (5) actual knowledge of the incapacity of the principal or a\nreasonable basis for believing that the principal is incapacitated where\nthe power of attorney tendered is a nondurable power of attorney;\n (6) actual knowledge or a reasonable basis for believing that the\nprincipal was incapacitated at the time the power of attorney was\nexecuted;\n (7) actual knowledge or a reasonable basis for believing that the\npower of attorney was procured through fraud, duress or undue influence;\n (8) actual noti
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