§ 5-1506. Compensation. 1. An agent is not entitled to receive\ncompensation from the assets of the principal for responsibilities\nperformed under a power of attorney unless the principal specifically\nprovides for compensation in the power of attorney.\n 2. An agent shall be entitled to receive reimbursement from the assets\nof the principal for reasonable expenses actually incurred in connection\nwith the performance of the agent's responsibilities.\n
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.