                                 CODE OF VIRGINIA

COMPENSATION AND FEES; WHEN NONE ALLOWED (§ 8.01-589)

A. A general receiver may retain from moneys received and held pursuant to §
8.01-582, compensation for his services in such amount 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 to
   those funds;

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

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

   4. Five percent of the interest income earned;

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

   6. Fifty dollars for conducting a hearing to ascertain the identity or
   location of trust fund beneficiaries pursuant to &#xA7; 8.01-586 as the court
   directs and $50 per hour for an appearance in court.

B. When direct out-of-pocket expenses are necessary to carry out an order of the
court, a general receiver may receive reimbursement for such expenses as the
court deems reasonable.

C. Notwithstanding the foregoing subsections, general receivers shall not deduct
fees or otherwise be compensated for services with respect to those funds which
should have been reported and then remitted to the State Treasurer in accordance
with &#xA7; 8.01-602 or 55.1-2518.
			A general receiver shall promptly report to the court the execution of the
bond or bonds required in &#xA7; 8.01-588 and make the reports and perform the
duties required of him. No compensation shall be allowed him until he has
performed the duties aforesaid.
			If such receiver is the clerk of court and if compensation is allowed, it
shall be fee and commission income to the office of such clerk in accordance
with &#xA7; 17.1-287.

HISTORY: Code 1950, § 8-732; 1977, c. 617; 1979, c. 498; 1988, c. 841; 2014, c.
65.