§ 29-40-115. Engagement and Compensation of Professional
With court approval, a receiver may engage an attorney, accountant, appraiser, auctioneer, broker, or other professional to assist the receiver in performing a duty or exercising a power of the receiver. The receiver shall disclose to the court: A person is not disqualified from engagement under this section solely because of the person’s engagement by, […]
§ 29-40-116. Use or Transfer of Receivership Property Not in Ordinary Course of Business
As used in this section, “good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing. With court approval, a receiver may use receivership property other than in the ordinary course of business. With court approval, a receiver may transfer receivership property other than in the ordinary course of business […]
§ 29-40-104. Scope — Exclusions
Except as otherwise provided in subsection (b) or (c), this chapter applies to a receivership for an interest in real property and any personal property related to or used in operating the real property. This chapter does not apply to a receivership for an interest in real property improved by one (1) to four (4) […]
§ 29-40-105. Power of Court
The court that appoints a receiver under this chapter has exclusive jurisdiction to direct the receiver and determine any controversy related to the receivership or receivership property.
§ 29-40-106. Appointment of Receiver
The court may appoint a receiver: Before judgment, to protect a party that demonstrates an apparent right, title, or interest in real property that is the subject of the action, if the property or the property’s revenue-producing potential: Is being subjected to or is in danger of waste, loss, dissipation, or impairment; or Has been […]
§ 29-40-101. Short Title
This chapter shall be known and may be cited as the “Uniform Commercial Real Estate Receivership Act.”
§ 29-40-102. Chapter Definitions
As used in this chapter: “Affiliate” means: With respect to an individual: A companion of the individual; A lineal ancestor or descendant, whether by blood or adoption, of: The individual; or A companion of the individual; A companion of an ancestor or descendant described in subdivision (1)(A)(ii); A sibling, aunt, uncle, great aunt, great uncle, […]
§ 29-40-103. Notice and Opportunity for Hearing
Except as otherwise provided in subsection (b), the court may issue an order under this chapter only after notice and opportunity for a hearing, as appropriate in the circumstances. The court may issue an order under this chapter: Without prior notice if the circumstances require issuance of an order before notice is given; After notice […]