10 U.S.C. § 8875 — Commissions of auctioneers
submitted 70 years ago by ch. 1041 to r/title-10-ARMED-FORCES · 107 words · no verdicts yet
This section lets the Secretary of the Navy set auctioneer commissions for prize sales. It caps those commissions and otherwise leaves compensation to the court.
(a) The Secretary of the Navy may establish a scale of commissions to be paid to auctioneers employed to make sales of prize property. These commissions are in full satisfaction of expenses as well as services. The scale may in no case allow a commission in excess of— (1) ½ of 1 percent on any amount exceeding $10,000 on the sale of a vessel; and (2) 1 percent on any amount exceeding $10,000 on the sale of other prize property. (b) If no such scale is established, auctioneers in prize causes must be paid such compensation as the court considers just under the circumstances of each case.
The Secretary of the Navy may establish a scale of commissions to be paid to auctioneers employed to make sales of prize property. These commissions are in full satisfaction of expenses as well as services. The scale may in no case allow a commission in excess of—
½ of 1 percent on any amount exceeding $10,000 on the sale of a vessel; and
1 percent on any amount exceeding $10,000 on the sale of other prize property.
If no such scale is established, auctioneers in prize causes shall be paid such compensation as the court considers just under the circumstances of each case.
Source credit: (Aug. 10, 1956, ch. 1041, 70A Stat. 481, § 7675; renumbered § 8875, Pub. L. 115–232, div. A, title VIII, § 807(d)(9), Aug. 13, 2018, 132 Stat. 1837.)
- 1956Enacted · Act of Aug. 10, 1956, ch. 1041
- 2018Amended · Pub. L. 115-232 · 132 Stat. 1837
A history note hasn’t been published yet. The record shows enactment by ch. 1041 on 1956-08-10.
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