ยง 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.
Structure New York Laws
Article 5 - Creation, Definition and Enforcement of Contractual Obligations
Title 15 - Statutory Short Form and Other Powers of Attorney for Financial and Estate Planning
5-1501 - Applications and Definitions.
5-1501A - Power of Attorney Not Affected by Incapacity.
5-1501B - Creation of a Valid Power of Attorney; When Effective.
5-1501C - Powers of Attorney Excluded From This Title.
5-1502A - Construction--Real Estate Transactions.
5-1502B - Construction--Chattel and Goods Transactions.
5-1502C - Construction--Bond, Share and Commodity Transactions.
5-1502D - Construction--Banking Transactions.
5-1502E - Construction--Business Operating Transactions.
5-1502F - Construction--Insurance Transactions.
5-1502G - Construction--Estate Transactions.
5-1502H - Construction--Claims and Litigation.
5-1502I - Construction--Personal and Family Maintenance.
5-1502J - Construction--Benefits From Governmental Programs or Civil or Military Service.
5-1502K - Construction--Matters Related to Health Care.
5-1502L - Construction--Retirement Benefit Transactions.
5-1502M - Construction--Tax Matters.
5-1502N - Construction--All Other Matters.
5-1503 - Modifications of the Statutory Short Form Power of Attorney.
5-1505 - Standard of Care; Fiduciary Duties; Compelling Disclosure of Record.
5-1508 - Co-Agents and Successor Agents.
5-1509 - Appointment of Monitor.
5-1511 - Termination or Revocation of Power of Attorney; Notice.
5-1512 - Powers of Attorney Executed in Other Jurisdictions.