Chapter 37 — Chapter 37
41 sections in this chapter.
ORS 37.010 Short title. ORS 37.020 to 37.410 may be cited as the Oregon Receivership Code. [2017 c.358 §1]
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[Repealed or reserved.]
ORS 37.020 Receivership described. Receivership is the process by which a court appoints a person to take charge of property during the pendency of an action or upon a judgment or order entered therein and to manage or dispose of the property as the court may direct. [2017 c.358 §2]
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[Repealed or reserved.]
ORS 37.030 Definitions. As used in the Oregon Receivership Code
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(1) “Affiliate” means: (a) With respect to an individual: (A) A companion of the individual; (B) A lineal ancestor or descendant, whether by blood or adoption, of the individual or a companion of the individual; (C) A companion of an ancestor or descendant described in subparagra…
ORS 37.040 Applicability. (1) Except as otherwise provided by law, the Oregon Receivership Code applies to all receiverships initiated in a court of this state, except for
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(a) Actions in which a state agency or officer is expressly authorized by statute to seek or obtain the appointment of a receiver; and (b) Actions authorized by or commenced under federal law. (2) In cases in which a state agency or officer is expressly authorized by statute to s…
ORS 37.050 Property not subject to receivership; exception. (1) A court may not appoint a receiver with respect to the following
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(a) Personal property of an individual that is used primarily for personal, family or household purposes. (b) Property of an individual exempt from execution under the laws of this state. (c) Any power or interest that a person may exercise solely for the benefit of another perso…
ORS 37.060 Appointment of receiver. (1) A court may appoint a receiver in the following cases, upon motion by any person or upon its own motion
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(a) Before judgment, if the property that is the subject of the action, or rents or profits deriving from the property, are in danger of being lost or materially injured or impaired. (b) After judgment, if reasonably necessary to carry the judgment into effect. (c) After judgment…
ORS 37.070 Eligibility to serve as receiver. (1) Any person, whether or not a resident of this state, may serve as a receiver, except for
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(a) An entity that is not authorized to conduct business in this state; (b) A person who has been convicted of a crime involving moral turpitude, or is controlled by a person who has been convicted of a crime involving moral turpitude; and (c) The sheriff of any county, except as…
ORS 37.080 Required disclosures relating to conflicts of interest. A court may not appoint a person as a receiver unless the person first
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(1) Discloses whether the person: (a) Is an affiliate of a party to the receivership; (b) Has an interest materially adverse to an interest of a party to the receivership; (c) Has a material financial interest in the outcome of the action, other than compensation approved by the …
ORS 37.090 Receiver’s bond, alternative security or insurance. (1) Except as otherwise provided by law, a court may, at any time before or during the service of a receiver, require a receiver or person nominated as a receiver to post a bond that
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(a) Is conditioned on the faithful discharge of the receiver’s duties; (b) Is in an amount that is determined by the court to be adequate to secure payment of any costs, damages and attorney fees that may be sustained or suffered by any person due to a wrongful act of the receive…
ORS 37.100 Exclusive jurisdiction of appointing court. (1) The court appointing a receiver has
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(a) Exclusive authority over the receiver; (b) Exclusive jurisdiction over and right to control all real property and all tangible and intangible personal property constituting the estate, wherever located, to the full extent of the court’s jurisdiction; and (c) Exclusive jurisdi…
ORS 37.110 Powers of receiver. (1) The court appointing a receiver may confer upon the receiver the power to perform any of the following actions, in any combination
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(a) Collect, control, manage, conserve and protect estate property; (b) Operate a business constituting estate property, including preservation, use, sale, lease, license, exchange, collection or disposition of property in the ordinary course of business; (c) In the ordinary cour…
ORS 37.120 Duties of receiver. (1) A receiver shall notify all federal and state taxing and applicable regulatory agencies of the receiver’s appointment in accordance with any applicable laws imposing this duty, including 26 U.S.C. 6036
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(2) A receiver shall comply with applicable law. (3) If appointed with respect to any real property, a receiver shall file with the recorder of the county in which the real property is located a certified copy of the order of appointment, together with a legal description of the …
ORS 37.130 Turnover of property. (1) Upon demand by a receiver, a person shall turn over to the receiver any estate property within the possession, custody or control of the person
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(2) If a bona fide dispute exists over whether property is estate property, the court in which the receivership is pending shall resolve the dispute. (3) A receiver may not demand a turnover of residential property without specific judicial approval, which the court may grant onl…
ORS 37.140 Collection by receiver of debts owed to owner. (1) Upon demand by a receiver, a person that owes a debt that is estate property and is matured or payable on demand shall pay the debt to the receiver, except to the extent that the debt is subject to setoff or recoupment
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(2) A person who has notice of the appointment of a receiver and owes a debt that is estate property may not satisfy the debt by payment to the owner. [2017 c.358 §14]
ORS 37.150 Duties of owner. (1) An owner shall
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(a) Assist and cooperate fully with the receiver in the administration of the estate and the discharge of the receiver’s duties, and comply with all orders of the court; (b) Supply to the receiver information necessary to enable the receiver to complete any schedules that the rec…
ORS 37.160 Mailing and special notice lists to be maintained by receiver. (1) A receiver shall maintain a master mailing list of the names and addresses of all parties to the receivership, all known creditors of the owner and interested persons who have filed notices of appearance in the receivership. The receiver shall make a copy of the current master mailing list available to any person on the list upon the person’s request
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(2)(a) A receiver shall maintain a special notice list of the names and addresses of all parties to the receivership and any other person who requests to be placed on the list. The receiver shall make a copy of the current special notice list available to any person on the list u…
ORS 37.170 Notices. (1)(a) Whenever a person is required to give notice under a provision of the Oregon Receivership Code, the person must
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(A) Serve notice on all persons specified by the provision; (B) Serve notice on all persons on the special notice list; (C) File notice with the court; and (D) File proof of service with the court. (b) If the provision does not specify to whom notice must be given, the person mus…
ORS 37.180 When court order required. (1) A receiver may not take any of the following actions unless the receiver, after giving notice, obtains a court order specifically authorizing the action, except as provided in subsection (2) of this section
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(a) Sale or other disposition of real property; (b) Use or transfer of property outside the ordinary course of business; (c) Sale of a co-owner’s interest in jointly owned property; (d) Assumption of an executory contract; (e) Obtaining credit or incurring debt outside the ordina…
ORS 37.190 Creditor list and inventory. (1) Within 60 days after appointment, or within such other time as the court may specify, a receiver shall file with the court a schedule of all known creditors of the owner, their last known mailing addresses, the amount and nature of their claims and whether their claims are disputed
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(2) If the court concludes that the estate is unlikely to be sufficient to make material distributions to unsecured creditors, the court may order that the receiver need not file a schedule as described in subsection (1) of this section. The court may order the receiver to file a…
ORS 37.200 Receiver’s periodic reports. (1) A receiver shall file with the court a monthly report of the receiver’s operations and financial affairs, unless the court orders a different reporting period. The receiver shall file each report no later than 30 days after the end of a reporting period. The initial report under this section must be filed no later than 60 days after the receiver is appointed, unless the court orders a different deadline
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(2) Each periodic report must include: (a) A concise narrative summary of the receiver’s activities during the period and a description of any major upcoming events; (b) Beginning and ending cash balances; (c) A statement of cash receipts and disbursements; (d) A statement of non…
ORS 37.210 Claims bar date. A receiver may, after providing notice to all known creditors of the owner, set a deadline for the submission of claims by creditors. The receiver, upon court order, may disallow any claims submitted after the deadline. [2017 c.358 §21]
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[Repealed or reserved.]
ORS 37.220 Automatic stay of certain proceedings. (1) Except as otherwise ordered by the court, the entry of an order appointing a receiver operates as a stay, applicable to all persons, of
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(a) The commencement or continuation, including the issuance or employment of process, of a judicial, administrative or other action or proceeding against the owner that was or could have been commenced before the entry of the order of appointment, or to recover a claim against t…
ORS 37.230 Utility service. (1) A utility providing service to estate property may not alter, refuse or discontinue service to the property without first giving the receiver 14 days’ notice of any default or intention to alter, refuse or discontinue service to estate property
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(2) Nothing in this section precludes the court from prohibiting the alteration or cessation of utility service if the receiver can furnish adequate assurance of payment, in the form of deposit or other security, for service to be provided after entry of the order appointing the …
ORS 37.240 Executory contracts. (1) A receiver may, upon order of the court, assume any executory contract of the owner. A receiver may, after giving notice, reject any executory contract of the owner. The court may condition assumption or rejection of any executory contract on terms and conditions that the court deems just and proper. A receiver’s performance of an executory contract does not constitute an assumption of the contract or an agreement by the receiver to assume it, nor otherwise preclude the receiver from rejecting it
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(2) If a receiver assumes an executory contract, the receiver must assume the contract in its entirety. (3) Any obligation or liability incurred by a receiver due to the receiver’s assumption of an executory contract is an expense of the receivership. A receiver’s rejection of an…
ORS 37.250 Use or transfer of estate property outside ordinary course of business; transfer of co-owned property; limitation on disposition of residential property. (1) Upon court order, a receiver may use estate property outside the ordinary course of business
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(2) Upon court order, a receiver may transfer estate property other than in the ordinary course of business by sale, lease, license, exchange or other disposition. Unless the transfer agreement provides otherwise, a transfer under this section is free and clear of a lien of the p…
ORS 37.260 Receivership financing. (1) If a receiver is authorized to operate the business of a person or manage a person’s property, the receiver may obtain credit and incur debt in the ordinary course of business. Expenses related to such credit and debt are allowable under ORS 37.370 as an administrative expense of the receiver
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(2) Upon court order, a receiver may obtain credit or incur debt other than in the ordinary course of business. The court may allow the receiver to mortgage, pledge, hypothecate or otherwise encumber estate property as security for repayment of any debt incurred under this subsec…
ORS 37.270 Recovery of costs related to secured property. A receiver may recover from property securing a secured claim the necessary costs and expenses of preserving, or disposing of, the property to the extent of any benefit to the holder of such claim, including the payment of all ad valorem property taxes with respect to the property. [2017 c.358 §27]
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[Repealed or reserved.]
ORS 37.280 Abandonment of property. (1) A receiver, after giving notice, may abandon estate property that is burdensome to the receiver or is of inconsequential value or benefit. Property that is abandoned no longer constitutes estate property
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(2) A receiver may not abandon property in contravention of a state statute or rule that is reasonably designed to protect the public health or safety from identified hazards, including ORS chapters 465 and 466. [2017 c.358 §28]
ORS 37.290 Actions by or against receiver or affecting estate property. (1) A person may not sue a receiver personally for an act or omission in administering estate property unless permitted by the court that appointed the receiver
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(2) A person may not initiate or continue an action seeking to dispossess the receiver of any estate property or to otherwise interfere with the receiver’s management or control of any estate property unless permitted by the court that appointed the receiver. (3) Actions by or ag…
ORS 37.300 Personal liability of receiver. (1) A receiver may be personally liable to the owner, or a record or beneficial owner of estate property, for loss or diminution in value of or damage to estate property only if the loss, diminution or damage is caused by
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(a) Failure of the receiver to comply with an order of the court; or (b) An act or omission for which liability could not be limited under ORS 60.047 if the receiver were an Oregon corporation. (2) A receiver may be personally liable to a person other than the owner, or the recor…
ORS 37.310 Employment and compensation of professionals. (1) After giving notice, a receiver may employ attorneys, accountants, appraisers, brokers, real estate licensees, auctioneers or other professionals to represent or assist the receiver in carrying out the receiver’s duties
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(2) The notice given by the receiver before employing a professional must disclose: (a) The identity and qualifications of the professional; (b) The scope and nature of the proposed engagement; (c) Any potential conflict of interest; and (d) The proposed compensation. (3) If an o…
ORS 37.320 Participation of creditors and other interested persons in receivership; effect of receivership on nonparties. (1) Any interested person may appear in a receivership, either in person or by an attorney. Before appearing in the receivership, an interested person who is not party to the receivership must file with the court a written notice of appearance, including the name and mailing address of the interested person, and the name and address of the person’s attorney, if any, and serve a copy of the notice upon the receiver. A creditor or other interested person may be heard with respect to all matters affecting the person, whether or not the person is joined as a party to the receivership
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(2) Persons who receive notice of the pendency of a receivership, whether actual or constructive, and creditors or other persons submitting written claims in the receivership or otherwise appearing and participating in the receivership, are bound by the acts of the receiver with …
ORS 37.330 Initial notice to creditors and other interested persons. (1) A receiver shall, within 30 days after the receiver’s appointment, provide notice of the receivership to all known creditors of the owner and any other known interested persons that includes
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(a) The date of appointment of the receiver; (b) The name of the court and the case number of the receivership; (c) The deadline for the submission of claims by creditors, if known; (d) The name and address of the owner; (e) The name and address of the receiver and receiver’s att…
ORS 37.340 Claims process. (1) If a receiver determines that the estate is sufficient to provide distributions to creditors, the receiver shall, upon notice, establish a claims process by sending a written document describing a claims process, including relevant dates and deadlines, to all known creditors of the owner. The receiver may prescribe forms or otherwise specify information required to be included in a claim
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(2) If the receiver determines that the estate is insufficient to provide distributions to creditors, the receiver may give notice that no claims process will take place in the receivership. [2017 c.358 §34]
ORS 37.350 Submission of claims by creditors. (1) Claims may not be submitted until a claims process is established under ORS 37.340
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(2) All claims that arose before the receiver’s appointment, whether contingent, liquidated, unliquidated or disputed, other than claims of creditors with security interests in or other liens against estate property, must be submitted in accordance with this section. Any claim no…
ORS 37.360 Objection to and allowance of claims. (1)(a) At any time before the entry of an order approving the receiver’s final report, a receiver may, upon court order and after at least 21 days’ notice, disallow a claim. The notice must set forth the grounds for the disallowance
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(b) At any time before the entry of an order approving the receiver’s final report, any interested person may object to a claim. The objector must mail a copy of the objection, together with a notice of hearing, to the receiver and claimant at least 21 days before the hearing. Th…
ORS 37.370 Priorities. (1) Allowed claims in a receivership receive distribution under the Oregon Receivership Code in the order of priority set forth in this subsection
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(a) The first priority is unpaid costs and expenses allowable under ORS 37.270. (b) The second priority is claims of creditors with liens on estate property that are duly perfected under applicable law. Such creditors receive the proceeds from the disposition of their collateral.…
ORS 37.380 Secured claims against after-acquired property. Property acquired by the estate or by the owner after the date of appointment of the receiver is subject to an allowed secured claim to the same extent as would be the case in the absence of a receivership. [2017 c.358 §38]
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[Repealed or reserved.]
ORS 37.390 Ancillary receiverships. (1) A receiver appointed in any action pending in the courts of this state may, upon court order, apply to any court outside of this state for appointment as receiver with respect to any estate property that is located in any other jurisdiction, if the appointment is necessary to the receiver’s possession, control, management or disposition of property in accordance with orders of the court. The receiver may move the court ex parte for an expedited hearing on a motion for leave to apply for an ancillary receivership
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(2) A receiver appointed in a foreign action, or any party to the foreign action, may move a court of this state for appointment of that same receiver with respect to any property of the foreign receivership that is located in this state. The court shall act on the motion as prov…
ORS 37.400 Removal of receiver. (1) On motion of the owner, the receiver or any creditor, or on the court’s own motion, the court shall remove a receiver if the receiver resigns or refuses or fails to serve for any reason, or for other good cause
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(2) Upon removal of the receiver, the court shall appoint a successor receiver if the court determines that further administration of the estate is required. Upon appointment, the successor receiver immediately takes possession of the estate and assumes the duties of receiver. (3…
ORS 37.410 Termination of receivership. (1) Upon distribution or disposition of all property of the estate or the completion of the receiver’s duties with respect to estate property, or for other good cause, the receiver shall move the court for an order discharging the receiver
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(2) The receiver shall attach to the motion for discharge a final report and accounting setting forth: (a) A list of estate property received during the receivership; (b) A list of disbursements, including payments to professionals engaged by the receiver; (c) A list of dispositi…