§ 29-40-120. Notice of Appointment — Claim Against Receivership — Distribution to Creditors
Except as otherwise provided in subsection (f), a receiver shall give notice of appointment of the receiver to creditors of the owner by: Deposit for delivery through first-class mail or other commercially reasonable delivery method to the last known address of each creditor; and Publication as directed by the court. Except as otherwise provided in […]
§ 29-40-121. Fees and Expenses
The court may award a receiver from receivership property the reasonable and necessary fees and expenses of performing the duties of the receiver and exercising the powers of the receiver. The court may order one (1) or more of the following to pay the reasonable and necessary fees and expenses of the receivership, including reasonable […]
§ 29-40-107. Disqualification From Appointment as Receiver — Disclosure of Interest
The court may not appoint a person as receiver unless the person submits to the court a statement under penalty of perjury that the person is not disqualified. Except as otherwise provided in subsection (c), a person is disqualified from appointment as receiver if the person: Is an affiliate of a party; Has an interest […]
§ 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 […]