Us Code § 8875 - Commissions of auctioneers
Full text of Us Code United States Code § 8875 — Commissions of auctioneers, with citation guidance and answers to common questions.
§ 8875. Commissions of auctioneers
(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.
(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.)
| Revised section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 7675 | 34 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.
About This Section
10 U.S.C. § 8875 is part of Title 10 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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