Michigan Laws 556.212 – Reimbursement and compensation of agent
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Terms Used In Michigan Laws 556.212
- Agent: means a person granted authority to act for a principal under a power of attorney, whether denominated an agent, attorney-in-fact, or otherwise. See Michigan Laws 556.202
- Principal: means an individual who grants authority to an agent in a power of attorney. See Michigan Laws 556.202
Unless the power of attorney provides otherwise, an agent is entitled to both of the following:
(a) Reimbursement of expenses reasonably incurred on behalf of the principal.
(b) Reasonable compensation for services rendered on behalf of the principal.