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This entry was published on 2014-09-22
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Multiple Dwelling (MDW) CHAPTER 61-A, ARTICLE 10
§ 359. Receivership. Whenever the lien or liens established by
judgment pursuant to this article shall amount to one thousand dollars
or more, and there be no stay pending appeal, the department shall
appoint a receiver of the rents and profits of such premises. Such
receiver shall give security for the performance of his duties in the
manner and form fixed by the department. He shall have the powers and
duties of a receiver of rents and profits of real estate appointed by
the supreme court; provided, that the corporation counsel shall act as
his counsel and the receiver shall not be allowed any expenditure for
counsel fees, and his commissions shall be ten per centum of his
collections, which sum shall be full compensation for his services and
those of any agent or agents whom he may employ. Such receivership shall
continue until the amount of such liens with interest thereon at the
rate of six per centum, and of the commissions, have been fully paid;
provided, that nothing in this section shall be construed to prevent any
prior lienor from applying to the court in a proper case for a receiver
of the premises.