US Lawyer Database

§ 29-40-118. Defenses and Immunities of Receiver

A receiver is entitled to all defenses and immunities provided by the law of this state, other than this chapter, for an act or omission within the scope of the receiver’s appointment. A receiver may be sued personally for an act or omission in administering receivership property only with approval of the court that appointed […]

§ 29-40-119. Interim Report of Receiver

A receiver may file or, if ordered by the court, shall file an interim report that includes: The activities of the receiver since appointment or a previous report; Receipts and disbursements, including a payment made or proposed to be made to a professional engaged by the receiver; Receipts and dispositions of receivership property; Fees and […]

§ 29-40-108. Receiver’s Bond — Alternative Security

Except as otherwise provided in subsection (b), a receiver shall post with the court a bond that: Is conditioned on the faithful discharge of the receiver’s duties; Has one (1) or more sureties approved by the court; Is in an amount the court specifies; and Is effective as of the date of the receiver’s appointment. […]

§ 29-40-109. Status of Receiver as Lien Creditor

On appointment of a receiver, the receiver has the status of a lien creditor under: The Uniform Commercial Code — Secured Transactions, compiled in title 47, chapter 9, as to receivership property that is personal property or fixtures; and Title 66, as to receivership property that is real property.

§ 29-40-110. Security Agreement Covering After-Acquired Property

Except as otherwise provided by the law of this state, other than this chapter, property that a receiver or owner acquires after appointment of the receiver is subject to a security agreement entered into before the appointment to the same extent as if the court had not appointed the receiver.

§ 29-40-111. Collection and Turnover of Receivership Property

Unless the court orders otherwise, on demand by a receiver: A person that owes a debt that is receivership property and is matured or payable on demand or on order shall pay the debt to or on the order of the receiver, except to the extent the debt is subject to setoff or recoupment; and […]

§ 29-40-112. Powers and Duties of Receiver

Except as limited by court order or the law of this state, other than this chapter, a receiver may: Collect, control, manage, conserve, and protect receivership property; Operate a business constituting receivership property, including preservation, use, sale, lease, license, exchange, collection, or disposition of the property in the ordinary course of business; In the ordinary […]

§ 29-40-113. Duties of Owner

An owner shall: Assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver’s duties; Preserve and turn over to the receiver all receivership property in the owner’s possession, custody, or control; Identify all records and other information relating to the receivership property, including a password, authorization, or […]

§ 29-40-114. Stay — Injunction

Except as otherwise provided in subsection (d) or ordered by the court, an order appointing a receiver operates as a stay, applicable to all persons, of an act, action, or proceeding: To obtain possession of, exercise control over, or enforce a judgment against receivership property; and To enforce a lien against receivership property to the […]