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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.