8.01-589 - Compensation and fees; when none allowed. - Virginia Statutes

§ 8.01-589. Compensation and fees; when none allowed.

A. A general receiver may receive as compensation for his services suchamount as the court deems reasonable, but not exceeding:

1. Ten dollars at receipt of the originating court order to receive funds,deposit funds, and establish files and accounting records with respect tothose funds;

2. Ten dollars when all funds held for a beneficiary or beneficiaries aredisbursed;

3. Ten dollars per draft or check for periodic and final disbursements;

4. Five percent of the interest income earned; and

5. Ten dollars for remitting funds to the State Treasurer and up to tendollars per draft for remitting those funds.

B. Notwithstanding the foregoing subsections, general receivers shall notdeduct fees or otherwise be compensated for services with respect to thosefunds which should have been reported and then remitted to the StateTreasurer in accordance with § 8.01-602 or § 55-210.9:1.

A general receiver shall promptly report to the court the execution of thebond or bonds required in § 8.01-588 and make the reports and perform theduties required of him. No compensation shall be allowed him until he hasperformed the duties aforesaid.

If such receiver is the clerk of court and if compensation is allowed, itshall be fee and commission income to the office of such clerk in accordancewith § 17.1-287.

(Code 1950, § 8-732; 1977, c. 617; 1979, c. 498; 1988, c. 841.)