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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
    NOTE: The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.

    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.