Chapter 55, Chapter 55

(a) Except as limited by court order or law of this state other than this article, a receiver may: (1) Collect, control, manage, conserve, and protect receivership property; (2) Operate a business constituting receivership property, including preservation, use, sale, lease, licen…

(a) An owner shall: (1) Assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver’s duties; (2) Preserve and turn over to the receiver all receivership property in the owner’s possession, custody, or control; (3) Identify a…

(a) Except as otherwise provided in subsection (d) of this section or ordered by the court, an order appointing a receiver operates as a stay, applicable to all persons, of an act, action, or proceeding: (1) To obtain possession of, exercise control over, or enforce a judgment ag…

(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 qualifica…

(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 court approval, a receiver may …

(a) In this section, “executory contract” has the same meaning as “timesharing plan” as defined in §36-9-4 of this code. (b) Except as otherwise provided in subsection (h) of this section, with court approval, a receiver may adopt or reject an executory contract of the owner rela…

(a) A receiver is entitled to all defenses and immunities provided by law of this state other than this article for an act or omission within the scope of the receiver’s appointment. (b) A receiver may be sued personally for an act or omission in administering receivership proper…

A receiver may file or, if ordered by the court, shall file an interim report that includes: (1) The activities of the receiver since appointment or a previous report; (2) Receipts and disbursements, including a payment made or proposed to be made to a professional engaged by the…

When used in this article, the following words have the meanings specified in this section: “Affiliate” means: (1) With respect to an individual: (A) A spouse, companion, or domestic partner of the individual; (B) A lineal ancestor or descendant, whether by blood or adoption, of:…

(a) Except as otherwise provided in subsection (f) of this section, a receiver shall give notice of appointment of the receiver to creditors of the owner by: (1) Deposit for delivery through first-class mail or other commercially reasonable delivery method to the last-known addre…

(a) The court may award a receiver from receivership property the reasonable and necessary fees and expenses of performing the duties of the receiver and exercising the powers of the receiver. (b) The court may order one or more of the following to pay the reasonable and necessar…

(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, has accounted fully for and turned ove…

(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 pro…

(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 article, if: (1) The p…

(a) A request by a mortgagee for appointment of a receiver, the appointment of a receiver, or 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 mo…

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.

This article modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq. of this code, but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. § 7001(c) of this code, or authorize electronic delive…

This article does not apply to a receivership for which the receiver was appointed before the effective date of this article.

(a) Except as otherwise provided in subsection (b) of this section, the court may issue an order under this article only after notice and opportunity for a hearing appropriate in the circumstances. (b) The court may issue an order under this article: (1) Without prior notice if t…

(a) Except as otherwise provided in subsection (b) or (c) of this section, this article applies to a receivership for an interest in real property and any personal property related to or used in operating the real property. (b) This article does not apply to a receivership for an…

The court that appoints a receiver under this article has exclusive jurisdiction to direct the receiver and determine any controversy related to the receivership or receivership property and all such orders shall have statewide effect.

(a) The court may appoint a receiver: (1) Before judgment, to protect a party that demonstrates an apparent right, title, or interest in real property that is the subject of the action, if the property or its revenue-producing potential: (A) Is being subjected to or is in danger …

(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 from appointment as rec…

(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 court specifies…

On appointment of a receiver, the receiver has the status of a lien creditor under: (1) Section §46-9-101 et seq. of this code as to receivership property that is personal property or fixtures; and (2) Chapter 38 of this code as to receivership property that is real property.