Section 10-21-22. – Removal of receiver — Replacement — Termination of receivership.
§ 10-21-22. Removal of receiver — Replacement — Termination of receivership. (a) The court may remove a receiver for cause. (b) The court shall replace a receiver that dies, resigns, or is removed. (c) If the court finds that a receiver that resigns or is removed, or the representative of a receiver that is deceased, […]
Section 10-21-23. – Final report of receiver — Discharge.
§ 10-21-23. Final report of receiver — Discharge. (a) On completion of a receiver’s duties, the receiver shall file a final report including: (1) A description of the activities of the receiver in the conduct of the receivership; (2) A list of receivership property at the commencement of the receivership and any receivership property received […]
Section 10-21-24. – Receivership in another state — Ancillary proceeding.
§ 10-21-24. Receivership in another state — Ancillary proceeding. (a) The court may appoint a receiver appointed in another state, or that person’s nominee, as an ancillary receiver with respect to property located in this state or subject to the jurisdiction of the court for which a receiver could be appointed under this chapter, if: […]
Section 10-21-25. – Effect of enforcement by secured party.
§ 10-21-25. Effect of enforcement by secured party. A request by a secured party for appointment of a receiver, the appointment of a receiver, or application by a secured party of receivership property or proceeds to the secured obligation does not: (1) Make the secured party a mortgagee in possession of the real property; (2) […]
Section 10-21-26. – Uniformity of application and construction.
§ 10-21-26. Uniformity of application and construction. In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. History of Section.P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § […]
Section 10-21-27. – Relation to Electronic Signatures in Global and National Commerce Act.
§ 10-21-27. Relation to Electronic Signatures in Global and National Commerce Act. This chapter modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede § 101(c) of that act (15 U.S.C. § 7001(c)), or authorize electronic delivery of any […]
Section 10-21-3.1. – Administrative and procedural orders in temporary non-liquidating receivership.
§ 10-21-3.1. Administrative and procedural orders in temporary non-liquidating receivership. The general assembly acknowledges that: (1) The presiding justice of the superior court may issue administrative orders governing the procedures in temporary non-liquidating receiverships. (2) The business calendar justice to whom a temporary non-liquidating receivership has been assigned may issue procedural orders in the temporary […]
Section 10-21-15. – Engagement and compensation of professional.
§ 10-21-15. 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) […]
Section 10-21-4. – Scope — Exclusions.
§ 10-21-4. Scope — Exclusions. (a) Except as otherwise provided in subsection (b) or (c) of this section, this chapter applies to a receivership for an interest in any one or more of the following: (1) Real property and any personal property related to or used in operating the real property; or (2) Personal property […]
Section 10-21-16. – Use or transfer of receivership property not in the ordinary course of business.
§ 10-21-16. Use or transfer of receivership property not in the ordinary course of business. (a) In this section, “good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing. (b) With court approval, a receiver may use receivership property other than in the ordinary course of business. (c) With […]