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The Laws of New York
Consolidated Laws of New York
CHAPTER 24-A
General Obligations
ARTICLE 5
Creation, Definition and Enforcement of Contractual Obligations
TITLE 15
Statutory Short Form and Other Powers of Attorney For Financial and Estate Planning
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SECTION 5-1505
Standard of care; fiduciary duties; compelling disclosure of record
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TITLE 15
Statutory Short Form and Other Powers of Attorney For Financial and Estate Planning
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SECTION 5-1507
Signature of agent
This entry was published on 2014-09-22
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SECTION 5-1506
Compensation
General Obligations (GOB) CHAPTER 24-A, ARTICLE 5, TITLE 15
§ 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.