Compensation

N.Y. General Obligations Law § 5-1506, under Statutory Short Form and Other Powers of Attorney For Financial and Estate Planning.

N.Y. General Obligations Law § 5-1506

§ 5-1506. Compensation. 1. An agent is not entitled to receive\ncompensation from the assets of the principal for responsibilities\nperformed under a power of attorney unless the principal specifically\nprovides for compensation in the power of attorney.\n 2. An agent shall be entitled to receive reimbursement from the assets\nof the principal for reasonable expenses actually incurred in connection\nwith the performance of the agent's responsibilities.\n