The House Committee on Judiciary offers the following substitute to HB 1348:
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 8 of Title 9 of the Official Code of Georgia Annotated, relating to
receivers relative to civil practice, so as to provide for compensation for receivers; to provide
for a cap on compensation; to make conforming changes; to provide for related matters; to
repeal conflicting laws; and for other purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION 1.
Chapter 8 of Title 9 of the Official Code of Georgia Annotated, relating to receivers relative
to civil practice, is amended by revising Code Section 9-8-13, relating to award of attorneys'
and receivers' fees and how determined, as follows:
"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)(1) 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 <ins>or her</ins> services, out of the fund coming into his <ins>or
her</ins> hands, not more than 8 percent of the first $1,000.00, 4 percent <del>of the excess up to</del> <ins>of
the amount above $1,000.00 and not exceeding</ins> $5,000.00, 3 percent of the amount
above $5,000.00 and not exceeding $10,000.00, <del>and</del> 2 percent of <del>all sums over</del> <ins>the
amount above</ins> $10,000.00 <ins>and not exceeding $20,000.00, and 0.5 percent of all sums over
$20,000.00.
(2)</ins> 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 <del>in lieu of commissions,</del> not <del>exceeding</del> <ins>to exceed</ins> the <ins>lesser of:
(A) Compensation</ins> <del>compensation</del> paid by persons in the usual and regular conduct of
such business; <ins>or
(B) Commissions of 8 percent of the first $1,000.00, 4 percent of the amount
above $1,000.00 and not exceeding $5,000.00, 3 percent of the amount above $5,000.00
and not exceeding $10,000.00, 2 percent of the amount above $10,000.00 and not
exceeding $20,000.00, and 0.5 percent of all sums over $20,000.00.
</ins> (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 <ins>not to exceed the
amounts provided for in subsection (b) of this Code section.
(d) Notwithstanding any provision of this Code section or other law to the contrary, in no
event shall total compensation awarded under this chapter exceed 5 percent of the total
sums received by the receiver unless otherwise ordered by the court."
</ins>
SECTION 2.
All laws and parts of laws in conflict with this Act are repealed.