Section 24-305 – Executory Contract
(a) (1) (i) At any time before a court’s approval of a final report under § 24–602 of this title, a receiver may assume or reject an executory contract of the owner if the receiver has provided notice of the contract and an opportunity for a hearing to the counterparty to the contract. (ii) If the requirement under subparagraph […]
Section 24-401 – Stay
(a) Except as provided in subsection (c) of this section or ordered by the court, the entry of an order appointing a receiver under § 24–103(a)(2) or (3) of this title shall operate as a stay of an act to: (1) Commence or continue a judicial, administrative, or other action or proceeding against the owner that was […]
Section 24-402 – Turning Over of Receivership Property
(a) (1) Except as provided in paragraph (2) of this subsection, and unless otherwise ordered by a court, a person that has possession, custody, or control of receivership property shall turn the receivership property over to the receiver on demand of the receiver. (2) If a creditor has possession, custody, or control of receivership property and the validity, […]
Section 24-403 – Responsibilities of Owner of Property
(a) Except as provided by court order, an owner shall: (1) Assist and cooperate with the receiver in administering the receivership and discharging the receiver’s duties; (2) Preserve and turn over to the receiver all receivership property in the owner’s possession, custody, or control, including all depository and investment accounts; (3) Identify and turn over all records and other […]
Section 24-404 – Property Acquired After Appointment of Receiver
Except as otherwise provided by a law of the State other than this title, property that a receiver or an 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.
Section 24-405 – Rights of Mortgagee
A request by a mortgagee for the appointment of a receiver, the appointment of a receiver, or the application by a mortgagee of receivership property or proceeds to the secured obligation does not: (1) Make the mortgagee a mortgagee in possession of the real property; (2) Make the mortgagee an agent of the owner; (3) Constitute an election […]
Section 24-406 – Assigned Property
(a) An assignee for the benefit of creditors shall be treated as a receiver appointed under § 24–201(a)(3) of this title. (b) The property assigned shall be treated as receivership property. (c) Except for § 24–201 of this title, this title shall govern all proceedings following the filing of the assignment.
Section 24-501 – Authority of Court to Issue Orders; Master Service List
(a) Except as otherwise provided in subsection (b) of this section, the court may issue an order under this title only after notice and an opportunity for a hearing. (b) The court may issue an order under this title: (1) If the circumstances require issuance of an order before notice is given, without prior notice; (2) If the circumstances […]
Section 24-502 – Final Order
If an order entered in a proceeding under this title is not a final order and the court determines in a written order that there is no just reason for delay, the court may direct the entry of a final order as set forth in Maryland Rule 2–602(b).
Section 24-601 – Interim Report
(a) A receiver: (1) May file an interim report; or (2) If ordered by the court, shall file an interim report. (b) The interim report under subsection (a) of this section shall include: (1) The activities of the receiver since appointment or a previous interim report; (2) Receipts and disbursements, including any payment made or proposed to be made to a […]