§ 8004. Commissions of receivers.

178 words·~1 min read·/ny/civil-practice-law-rules/fees/8004·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Generally. A receiver, except

where otherwise prescribed by statute, is entitled to such commissions,

not exceeding five per cent upon the sums received and disbursed by him,

as the court by which he is appointed allows, but if in any case the

commissions, so computed, do not amount to one hundred dollars, the

court, may allow the receiver such a sum, not exceeding one hundred

dollars, as shall be commensurate with the services he rendered.

(b)Allowance where funds depleted. If, at the termination of a

receivership, there are no funds in the hands of the receiver, the

court, upon application of the receiver, may fix the compensation of the

receiver and the fees of his attorney, in accordance with the respective

services rendered, and may direct the party who moved for the

appointment of the receiver to pay such sums, in addition to the

necessary expenditures incurred by the receiver. This subdivision shall

not apply to a receiver or his attorney appointed pursuant to article

twenty-three-a of the general business law.