Delaware Code Title 12 Sec. 49A-112 – Reimbursement and compensation of agent
Current as of: 2023 | Check for updates
|
Other versions
(a) An agent is entitled to reimbursement of expenses reasonably incurred on behalf of the principal.
Terms Used In Delaware Code Title 12 Sec. 49A-112
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
(b) An agent shall not be entitled to compensation unless:
(1) The personal power of attorney so provides; and
(2) The compensation is reasonable under the circumstances.