Statute · New York General Obligations Law
N.Y. Gen. Oblig. Law § 5-1506 — Compensation
N.Y. Gen. Oblig. Law § 5-1506
- Type
- Statute
- Source
- New York General Obligations Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 5-1506. Compensation. 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.
Citator
N.Y. Gen. Oblig. Law § 5-1506 — Compensation is in force in the current edition of the Code, and nothing recorded condemns it.
§ 5-1506. Compensation. 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.