§ 8-06 Fees.
RCNY § 8-06
(a)The Commissioner of Finance is entitled, for services, to the following fees: For each certificate of deposit - $1 Upon moneys paid out of court - 2% except as set forth in subdivision (c) Upon moneys invested - 1/2 of 1% Upon securities deposited in court and received by the Commissioner - 2 percent of the par value of the securities Upon investments transferred or assigned out of court by the Commissioner, when the investments have been made by the Commissioner - 2 percent of the par value of the investments.
(b)Unless the court otherwise specially directs, all fees for payment of money out of court will be deducted from the amount paid and not from the balance remaining to the credit of the action or proceeding. However, if a judgment or other evidence of debt is a lien upon the funds or portion thereof, or the expenses of litigation (such as referee's fees, county clerk's fees or subpoena fees, etc.) are directed to be paid therefrom, the fees of the Department of Finance are to be deducted from the sum or sums remaining of the share or shares which bear such expenses, if sufficient; if insufficient, the amount to be applied to such expenses is the amount remaining of such sum or sums after deducting the fees of the Department of Finance.
(c)The Department waives the fees to which the Commissioner is entitled pursuant to subdivisions 1, 3 and 4 of Section 99-m of the general municipal law. (Amended City Record 1/18/2018, eff. 2/17/2018)
