§8875 — Title 10 Armed Forces | U.S. Code

Summary

Allows the Secretary of the Navy to set fixed commission rates for auctioneers who sell prize property. Those commissions must cover both the auctioneer’s pay and expenses. The scale cannot allow more than 1/2 of 1 percent on any amount over $10,000 for a vessel, and no more than 1 percent on any amount over $10,000 for other prize property. If the Navy has not set a scale, the court will decide a fair payment in each case.

Title 10, §8875

Armed Forces — Source: USLM XML via OLRC

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

Notes & Related Subsidiaries

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 AmendmentAmendment 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.

§8875 Commissions of auctioneers

Summary

Title 10, §8875

Notes & Related Subsidiaries

Historical and Revision Notes

Editorial Notes

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Amendments

Citations & Metadata