Section 359. Receivership  


Latest version.
  • Whenever  the  lien  or  liens  established by
      judgment pursuant to this article shall amount to one  thousand  dollars
      or  more,  and  there  be  no  stay pending appeal, the department shall
      appoint a receiver of the rents  and  profits  of  such  premises.  Such
      receiver  shall  give  security for the performance of his duties in the
      manner and form fixed by the department. He shall have  the  powers  and
      duties  of  a  receiver of rents and profits of real estate appointed by
      the supreme court; provided, that the corporation counsel shall  act  as
      his  counsel  and  the receiver shall not be allowed any expenditure for
      counsel fees, and his  commissions  shall  be  ten  per  centum  of  his
      collections,  which  sum shall be full compensation for his services and
      those of any agent or agents whom he may employ. Such receivership shall
      continue until the amount of such liens with  interest  thereon  at  the
      rate  of  six  per centum, and of the commissions, have been fully paid;
      provided, that nothing in this section shall be construed to prevent any
      prior lienor from applying to the court in a proper case for a  receiver
      of the premises.