Power Of Attorney New York Statutory Short Form Page 6
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7(n) IMPORTANT INFORMATION FOR THE AGENT:
When you accept the authority granted under this Power of Attorney, a special legal relationship is
created between you and the principal. This relationship imposes on you legal responsibilities that
continue until you resign or the Power of Attorney is terminated or revoked. You must:
(1) act according to any instructions from the principal, or, where there are no instructions, in
the principal's best interest;
(2) avoid conflicts that would impair your ability to act in the principal's best interest;
(3) keep the principal's property separate and distinct from any assets you own or control,
unless otherwise permitted by law;
(4) keep a record or all receipts, payments, and transactions conducted for the principal; and
(5) disclose your identity as an agent whenever you act for the principal by writing or printing
the principal's name and signing your own name as "agent" in either of the following manner:
(Principal's Name) by (Your Signature) as Agent, or (your signature) as Agent for
(Principal's Name).
You may not use the principal's assets to benefit yourself or give major gifts to yourself or anyone else
unless the principal has specifically granted you that authority in this Power of Attorney or in a Statutory
Major Gifts Rider attached to this Power of Attorney. If you have that authority, you must act according
to any instructions of the principal or, where there are no such instructions, in the principal's best
interest. You may resign by giving written notice to the principal and to any co-agent, successor agent,
monitor if one has been named in this document, or the principal's guardian if one has been appointed. If
there is anything about this document or your responsibilities that you do not understand, you should
seek legal advice.
Liability of Agent: The meaning of the authority given to you is defined in New York's General
Obligations Law, Article 5, Title 5. If it is found that you have violated the law or acted outside the
authority granted to you in the Power of Attorney, you may be liable under the law for your violation.
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