[USC02] 10 USC 8875: Commissions of auctioneers
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TEXT OF PART V OF SUBTITLE A (3001 ET SEQ.), EFFECTIVE JANUARY 1, 2022, CURRENTLY SET OUT AS A PREVIEW

10 USC 8875: Commissions of auctioneers Text contains those laws in effect on June 17, 2021
From Title 10-ARMED FORCESSubtitle C-Navy and Marine CorpsPART IV-GENERAL ADMINISTRATIONCHAPTER 883-PRIZE

§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 .)

Historical and Revision Notes
Revised sectionSource (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".

Amendments

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

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.