North Carolina General Statutes 32C-1-112. Reimbursement and compensation of agent
Terms Used In North Carolina General Statutes 32C-1-112
- 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
(a) If the terms of the power of attorney specify the amount or the way the compensation is to be determined, the agent is entitled to the compensation as specified.
(b) If the terms of the power of attorney do not specify the amount or the way the compensation is to be determined, and the principal thereafter becomes incapacitated, then subsequent to the principal’s incapacity the agent is entitled to receive reasonable compensation as determined by the clerk of superior court in accordance with N.C. Gen. Stat. § 32-59
(c) Unless the power of attorney otherwise provides, an agent is entitled upon request to the clerk of superior court pursuant to N.C. Gen. Stat. § 32-59 to be reimbursed for expenses properly incurred on behalf of the principal. (2017-153, s. 1; 2018-142, s. 29.)