Marty Davis and Jose Chanfrau to Attend Important In-House Counsel

Amends the definition of “principal” so that it only applies to individuals acting for himself or herself, and not as a fiduciary or as an official of any legal, governmental or commercial entity, who executes a power of attorney eliminates the provision that created a presumption that the execution of a power of attorney revokes any prior powers of attorney executed by the principal provides that the execution of a power of attorney does not revoke any power of attorney previously executed by the principal adds a provision that a power of attorney that complies with NY-GOL 5-1501 and is executed in another state or jurisdiction by a domiciliary of the State of New York is valid in the State of New York, and a power of attorney executed in the State of New York by a domiciliary of another state or jurisdiction in compliance with the law of that state or jurisdiction or the laws of the State of New York is valid in the State of New York.