Title Minnesota Statutes, Minnesota Statutes

576.25 APPOINTMENT OF RECEIVERS; RECEIVERSHIP NOT A TRUST. § Subdivision 1.No necessity of separate action. A receiver may be appointed under this chapter whether or not the motion for appointment of a receiver is combined with, or is ancillary to, an action seeking a money judgm…

576.26 ELIGIBILITY OF RECEIVER. § Subdivision 1.Who may serve as receiver. Unless otherwise prohibited by law or prior order, any person, whether or not a resident of this state, may serve as a receiver, provided that the court, in its order appointing the receiver, makes written…

576.27 BOND. After appointment, a receiver shall give a bond in the sum, nature, and with the conditions that the court shall order in its discretion consistent with section 574.11. Unless otherwise ordered by the court, the receiver's bond shall be conditioned on the receiver's …

576.28 IMMUNITY; DISCOVERY FROM RECEIVER. (a) The receiver shall be entitled to all defenses and immunities provided at common law for acts or omissions within the scope of the receiver's appointment. (b) No person other than a successor receiver duly appointed by the court shall…

576.29 POWERS AND DUTIES OF RECEIVERS; GENERALLY. § Subdivision 1.Powers. (a) A receiver, whether general or limited, shall have the following powers in addition to those specifically conferred by this chapter or otherwise by statute, rule, or order of the court: (1) the power to…

576.30 RECEIVER AS LIEN CREDITOR; REAL PROPERTY RECORDING; SUBSEQUENT SALES OF REAL PROPERTY. § Subdivision 1.Receiver as lien creditor. As of the time of appointment, the receiver shall have the powers and priority as if it were a creditor that obtained a judicial lien at the ti…

576.31 DUTIES OF RESPONDENT. The respondent shall: (1) assist and cooperate fully with the receiver in the administration of the receivership and the receivership property and the discharge of the receiver's duties, and comply with all orders of the court; (2) immediately upon th…

576.32 EMPLOYMENT AND COMPENSATION OF PROFESSIONALS. § Subdivision 1.Employment. (a) To represent or assist the receiver in carrying out the receiver's duties, the receiver may employ attorneys, accountants, appraisers, auctioneers, and other professionals that do not hold or rep…

576.33 SCHEDULES OF PROPERTY AND CLAIMS. (a) The court may order the respondent or a general receiver to file under oath to the best of its actual knowledge: (1) a schedule of all receivership property and exempt property of the respondent, describing, as of the time of appointme…

576.34 NOTICE. In a general receivership, unless the court orders otherwise, the receiver shall give notice of the receivership to all creditors and other parties in interest actually known to the receiver by mail or other means of transmission within 21 days after the time of ap…

576.35 NOTICES, MOTIONS, AND ORDERS. § Subdivision 1.Notice of appearance. Any party in interest may make an appearance in a receivership by filing a written notice of appearance, including the name, mailing address, fax number, email address, if any, and telephone number of the …

576.36 RECORDS; INTERIM REPORTS. § Subdivision 1.Preparation and retention of records. The receiver shall prepare and retain appropriate business records, including records of all cash receipts and disbursements and of all receipts and distributions or other dispositions of recei…

576.37 REMOVAL OF RECEIVERS. § Subdivision 1.Removal of receiver. The court may remove the receiver if: (1) the receiver fails to execute and file the bond required by section 576.27; (2) the receiver resigns, refuses, or fails to serve for any reason; or (3) for other good cause…

576.38 TERMINATION OF RECEIVERSHIPS; FINAL REPORT. § Subdivision 1.Termination of receivership. The court may discharge a receiver and terminate the receivership. If the court determines that the appointment of the receiver was procured in bad faith, the court may assess against …

576.39 ACTIONS BY OR AGAINST RECEIVER OR RELATING TO RECEIVERSHIP PROPERTY. § Subdivision 1.Actions by or against receiver. The receiver may sue in the receiver's capacity and, subject to other sections of this chapter and all immunities provided at common law, may be sued in tha…

576.40 TURNOVER OF PROPERTY. § Subdivision 1.Demand by receiver. Except as expressly provided in this section, and unless otherwise ordered by the court, upon demand by a receiver, any person shall turn over any receivership property that is within the possession or control of th…

576.41 ANCILLARY RECEIVERSHIPS. § Subdivision 1.Ancillary receiverships in foreign jurisdictions. A receiver appointed by a court of this state may, without first seeking approval of the court, apply in any foreign jurisdiction for appointment as receiver with respect to any rece…

576.42 STAYS. § Subdivision 1.Control of property. All receivership property is under the control and supervision of the court appointing the receiver. § Subd. 2.Stay by court order. In addition to any stay provided in this section, the court may order a stay or stays to protect …

576.43 UTILITY SERVICE. A utility providing service to receivership property that has received written notice from the receiver of the appointment of the receiver may not alter, refuse, or discontinue service to the receivership property without first giving the receiver written …

576.44 RECEIVERSHIP FINANCING. (a) Without necessity of a court order, the receiver may obtain unsecured credit and incur unsecured debt on behalf of the receivership, and the amounts shall be allowable as expenses of the receivership under section 576.51, subdivision 1, clause (…

576.45 EXECUTORY CONTRACTS. § Subdivision 1.Performance by receiver. Unless a court orders otherwise, a receiver succeeds to all of the rights and duties of the respondent under any executory contract. The court may condition the continued performance by the receiver on terms tha…

576.46 SALES FREE AND CLEAR OF LIEN IN GENERAL RECEIVERSHIPS. § Subdivision 1.Sales free and clear of liens. (a) The court may order that a general receiver's sale of receivership property is free and clear of all liens, except any lien for unpaid real estate taxes or assessments…

576.47 ABANDONMENT OF PROPERTY. The court may authorize the receiver to abandon to the respondent any receivership property that is burdensome or is not of material value to the receivership. History: 2012 c 143 art 1 s 27; 2016 c 135 art 3 s 6

576.48 LIENS AGAINST AFTER-ACQUIRED PROPERTY. Except as otherwise provided for by statute, property that becomes receivership property after the time of appointment is subject to a lien to the same extent as it would have been in the absence of the receivership. History: 2012 c 1…

576.49 CLAIMS PROCESS. § Subdivision 1.Recommendation of receiver. In a general receivership, and in a limited receivership if the circumstances require, the receiver shall submit to the court a recommendation concerning a claims process appropriate to the particular receivership…

576.50 OBJECTION TO AND ALLOWANCE OF CLAIMS. § Subdivision 1.Objections and allowance. The receiver or any party in interest may file a motion objecting to a claim and stating the grounds for the objection. The court may order that a copy of the objection be served on the persons…

576.51 PRIORITY OF CLAIMS. § Subdivision 1.Priorities. Allowed claims shall receive distribution under this chapter in the following order of priority and, except as set forth in clause (1), on a pro rata basis: (1) claims secured by liens on receivership property, which liens ar…

576.52 INTEREST ON UNSECURED CLAIMS. To the extent that funds are available to pay holders of allowed unsecured claims in full or the amounts due as of the time of appointment, each holder shall also be entitled to receive interest, calculated from the time of appointment, at the…

576.53 DISTRIBUTIONS. § Subdivision 1.Proposed distributions. Before any interim or final distribution is made, the receiver shall file a distribution schedule listing the proposed distributions. The distribution schedule may be filed at any time during the case or may be include…