Title 9, Chapter 8, Section 13
( 9-8-13)
(a) In all cases where a receiver is appointed under the laws of
this state to take charge of the assets of any person, firm, or
corporation and a fund is brought into court for distribution, the
court having jurisdiction thereof shall award to counsel filing the
petition and representing the moving creditor or creditors, out of
the fund, no greater sum as fees for services rendered in filing the
petition and bringing the fund into court than the services are
actually worth, taking as a basis therefor the amount represented by
the counsel in the original petition and the assets brought into the
hands of the receiver by the services of counsel not including the
assets turned over to the receiver by defendants under order of the
court. (b) In all cases where a receiver is appointed to take charge of the
assets of any person, firm, or corporation, the court having
jurisdiction thereof shall award to the receiver as full
compensation for his services, out of the fund coming into his
hands, not more than 8 percent of the first $1,000.00, 4 percent of
the excess up to $5,000.00, 3 percent of the amount above $5,000.00
and not exceeding $10,000.00, and 2 percent of all sums over
$10,000.00. Where the business of an insolvent person, firm, or
corporation is continued and conducted by a receiver, the judge may
allow such compensation as may be reasonable for such services in
lieu of commissions, not exceeding the compensation paid by persons
in the usual and regular conduct of such business. (c) In all cases, the presiding judge or other competent tribunal
shall allow such compensation to the attorney or attorneys filing
the original petition and to the receiver or receivers appointed
thereunder as their services are reasonably worth. |