§ 8875 - Commissions of auctioneers

CHAPTER 883— PRIZE

(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—

(a)(1) ½ of 1 percent on any amount exceeding $10,000 on the sale of a vessel; and

(a)(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 shall be paid such compensation as the court considers just under the circumstances of each case.

Notes

Historical and Revision Notes Revised sectionSource (U.S. Code)Source (Statutes at Large) 767534 U.S.C. 1156.R.S. 4650.

The word “amount” is substituted for the word “sum”.

Editorial Notes

Amendments

2018—Pub. L. 115–232 renumbered section 7675 of this title as this section.

Statutory Notes and Related Subsidiaries

Effective Date of 2018 Amendment

Amendment by Pub. L. 115–232 effective Feb. 1, 2019, with provision for the coordination of amendments and special rule for certain redesignations, see section 800 of Pub. L. 115–232, set out as a note preceding section 3001 of this title.