1. The Laws of New York
  2. Consolidated Laws
  3. Business Corporation
  4. Article 12: Receivership


Section 1217 Commissions

Business Corporation (BSC)

  (a) A receiver shall be entitled, in addition to his necessary expenses, to such commissions upon the sums received and disbursed as may be allowed by the court, as follows:

  (1) On the first twenty thousand dollars, not exceeding five percent;

  (2) On the next eighty thousand dollars, not exceeding two and one-half percent; and

  (3) On the remainder, not exceeding one percent.

  (b) If the commissions of the receiver so computed do not amount to one hundred dollars, the court in its discretion may allow such sum not exceeding one hundred dollars as shall be reasonable.

  (c) When more than one receiver shall be appointed, the compensation herein provided shall be divided between them, as the court directs.