§ 33-2607 – Receiver’s bond; alternative security
33-2607. Receiver’s bond; alternative security A. Except as otherwise provided in subsection B of this section, a receiver shall post with the court a bond that: 1. Is conditioned on the faithful discharge of the receiver s duties. 2. Has one or more sureties approved by the court. 3. Is in an amount the court […]
§ 33-2608 – Status of receiver as lien creditor
33-2608. 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, title 47, chapter 9, as to receivership property that is personal property or fixtures and chapter 7, article 5 of this title as to receivership property that is real […]
§ 33-2609 – Security agreement covering after-acquired property
33-2609. Security agreement covering after-acquired property Except as otherwise provided by law, 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.
§ 33-2610 – Collection and turnover of receivership property
33-2610. Collection and turnover of receivership property A. Unless the court orders otherwise, on demand by a receiver: 1. 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 […]
§ 33-2611 – Powers and duties of receiver
33-2611. Powers and duties of receiver A. Except as limited by court order or another law, a receiver may: 1. Collect, control, manage, conserve and protect receivership property. 2. 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. 3. […]
§ 33-2612 – Duties of owner
33-2612. Duties of owner A. An owner shall: 1. Assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver’s duties. 2. Preserve and turn over to the receiver all receivership property in the owner’s possession, custody or control. 3. Identify all records and other information relating to […]
§ 33-2613 – Stay; injunction
33-2613. Stay; injunction A. Except as otherwise provided in subsection D of this section or ordered by the court, an order appointing a receiver operates as a stay, applicable to all persons, of an act, action or proceeding: 1. To obtain possession of, exercise control over or enforce a judgment against receivership property. 2. To […]
§ 33-2614 – Engagement and compensation of professional
33-2614. Engagement and compensation of professional A. 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: 1. The identity and qualifications of the professional. 2. The […]
§ 33-2615 – Use or transfer of receivership property not in the ordinary course of business; definition
33-2615. Use or transfer of receivership property not in the ordinary course of business; definition A. With court approval, a receiver may use receivership property other than in the ordinary course of business. B. With court approval, a receiver may transfer receivership property other than in the ordinary course of business by sale, lease, license, […]
§ 33-2616 – Executory contract; definition
33-2616. Executory contract; definition A. Except as otherwise provided in subsection G of this section, with court approval, a receiver may adopt or reject an executory contract of the owner relating to receivership property. The court may condition the receiver’s adoption and continued performance of the contract on terms appropriate under the circumstances. B. A […]