§ 10-21-21.1. Emergency declaration receivership program coordinator. The presiding justice of the superior court may appoint an individual to serve as program coordinator to identify and coordinate sources for funding, legal services, accounting services, and other appropriate services for temporary non-liquidating receiverships. The individual must have appropriate qualifications for the position and shall serve at […]
§ 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, […]
§ 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 […]
§ 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: […]
§ 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) […]
§ 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, § […]
§ 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 […]
§ 10-21-28. Transition. This chapter does not apply to a receivership for which the receiver was appointed before June 20, 2022. History of Section.P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § 1, effective June 20, 2022.
§ 10-21-28.1. Emergency declaration temporary non-liquidating receivership transition provisions. (a) Notwithstanding § 10-21-28, the court may for cause apply this chapter to a receivership for which a receiver was appointed before June 20, 2022, if the owner would otherwise be eligible for a temporary non-liquidating receivership. (b) Unless extended by the general assembly, the emergency […]
§ 10-21-29. Official comments. It is the intention of the general assembly that the official comments to the Uniform Commercial Real Estate Receivership Act as approved and recommended for enactment in all the States by the National Conference of Commissioners on Uniform State Laws in 2015 represent the express legislative intent of the general assembly […]
§ 10-21-3. Notice and opportunity for hearing. (a) Except as otherwise provided in subsection (b) of this section, the court may issue an order under this chapter only after notice and opportunity for a hearing appropriate in the circumstances. (b) The court may issue an order under this chapter: (1) Without prior notice if the […]
§ 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 […]
§ 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 […]
§ 10-21-5. 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. History of Section.P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § 1, effective June 20, 2022.
§ 10-21-6. Appointment of receiver. (a) The court may appoint a receiver: (1) Before judgment, to protect a party that demonstrates an apparent right, title, or interest in property that is the subject of the action, if the property or its revenue-producing potential: (i) Is being subjected to or is in danger of waste, loss, […]
§ 10-21-6.1. Appointment of temporary non-liquidating receiver. The court may appoint a temporary non-liquidating receiver on the request of the owner if: (1) As of the date of an emergency declaration, the owner was not insolvent; (2) As of the date of an emergency declaration, the owner was generally paying its debts as those debts […]
§ 10-21-7. Disqualification from appointment as receiver — Disclosure of interest. (a) The court may not appoint a person as receiver unless the person submits to the court a statement under penalty of perjury that the person is not disqualified. (b) Except as otherwise provided in subsection (c) of this section, a person is disqualified […]
§ 10-21-8. 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 […]
§ 10-21-9. Status of receiver as lien creditor. On appointment of a receiver, in addition to the receiver’s other status under this chapter, the receiver has the status of a lien creditor under: (1) Chapter 9 of title 6A as to receivership property that is personal property or fixtures; and (2) Section 34-13-2 as to […]
