Bill > HB1348

This bill modifies existing Georgia law concerning the compensation of receivers, who are individuals appointed by a court to manage the assets of a person, firm, or corporation, often in cases of financial distress. The key provisions establish a tiered system for calculating a receiver's compensation based on the amount of funds they handle, with specific percentages applied to different ranges of money, such as 8 percent on the first $1,000, 4 percent on amounts between $1,000 and $5,000, and progressively lower percentages for larger sums up to $20,000 and beyond. The bill also allows for reasonable compensation if a receiver continues to operate a business, with limits tied to what would typically be paid in that business or the established commission structure, whichever is less. Importantly, the bill introduces an overall cap on total compensation awarded to receivers and attorneys under this chapter, limiting it to 5 percent of the total sums received by the receiver, unless a court orders otherwise.

Justice

https://www.legis.ga.gov/legislation/73290