N.Y. Civil Practice Law & Rules Law § 8004
Commissions of receivers
New York · New York Civil Practice Law & Rules Law · Status: effective · Effective 2014-09-22
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- Citation
- N.Y. Civil Practice Law & Rules Law § 8004, Commissions of receivers, New York, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1099031
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Full text
§ 8004. Commissions of receivers.
(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.