New York Consolidated Laws, General Obligations Law - GOB § 5-1506. Compensation

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1. An agent is not entitled to receive compensation from the assets of the principal for responsibilities performed under a power of attorney unless the principal specifically provides for compensation in the power of attorney.

2. An agent shall be entitled to receive reimbursement from the assets of the principal for reasonable expenses actually incurred in connection with the performance of the agent's responsibilities.

Cite this article: FindLaw.com - New York Consolidated Laws, General Obligations Law - GOB § 5-1506. Compensation - last updated January 01, 2021 | https://codes.findlaw.com/ny/general-obligations-law/gob-sect-5-1506/


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