2011 US Code
Title 10 - Armed Forces
Subtitle C - Navy and Marine Corps (§§ 5001 - 7921)
Part IV - GENERAL ADMINISTRATION (§§ 7201 - 7921)
Chapter 655 - PRIZE (§§ 7651 - 7681)
Section 7675 - Commissions of auctioneers
View Metadata| Publication Title | United States Code, 2006 Edition, Supplement 5, Title 10 - ARMED FORCES |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 10 - ARMED FORCES Subtitle C - Navy and Marine Corps PART IV - GENERAL ADMINISTRATION CHAPTER 655 - PRIZE Sec. 7675 - Commissions of auctioneers |
| Contains | section 7675 |
| Date | 2011 |
| Laws in Effect as of Date | January 3, 2012 |
| Positive Law | Yes |
| Disposition | standard |
| Source Credit | Aug. 10, 1956, ch. 1041, 70A Stat. 481. |
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(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.)
| 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”.
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