New York · Through 2026-09-11

N.Y. General Obligations Law § 5-1506: Compensation

Where this section sits in the code

General Obligations Law
Article 5. Creation, Definition and Enforcement of Contractual Obligations
Title 15. Statutory Short Form and Other Powers of Attorney For Financial and Estate Planning

§ 5-1506. 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.

Collected 2026-09-14T19:32:45Z. Source file · JSON