Delaware Code Title 8 Sec. 298 – Compensation, costs and expenses of receiver or trustee
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The Court of Chancery, before making distribution of the assets of a corporation among the creditors or stockholders thereof, shall allow a reasonable compensation to the receiver or trustee for such receiver’s or trustee’s services, and the costs and expenses incurred in and about the execution of such receiver’s or trustee’s trust, and the costs of the proceedings in the Court, to be first paid out of the assets.
8 Del. C. 1953, § ?298; 56 Del. Laws, c. 50; 71 Del. Laws, c. 339, § ?62;
Terms Used In Delaware Code Title 8 Sec. 298
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Trustee: A person or institution holding and administering property in trust.