714.12 Powers and duties of receiver.
480 words·~2 min read·
/fl/title-xl/chapter-714/714-12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Except as limited by court order or the laws of this state other than this chapter, a receiver may:
(a)Collect, control, manage, conserve, and protect receivership property;
(b)Operate a business constituting receivership property, including preservation, use, sale, lease, license, exchange, collection, or disposition of the property in the ordinary course of business;
(c)In the ordinary course of business, incur unsecured debt and pay expenses incidental to the receiver’s preservation, use, sale, lease, license, exchange, collection, or disposition of receivership property;
(d)Assert a right, claim, cause of action, or defense of the owner which relates to receivership property;
(e)Seek and obtain instruction from the court concerning receivership property, exercise of the receiver’s powers, and performance of the receiver’s duties;
(f)Upon subpoena, compel a person to submit to examination under oath, or to produce and permit inspection and copying of designated records or tangible things, with respect to receivership property or any other matter that may affect administration of the receivership;
(g)Engage a professional pursuant to s. 714.15 ;
(h)Apply to a court of another state for appointment as ancillary receiver with respect to receivership property located in that state; and
(i)Exercise any power conferred by court order, this chapter, or the laws of this state other than this chapter.
(2)With court approval, a receiver may:
(a)Incur debt for the use or benefit of receivership property other than in the ordinary course of business;
(b)Make improvements to receivership property;
(c)Use or transfer receivership property other than in the ordinary course of business pursuant to s. 714.16 ;
(d)Adopt or reject an executory contract of the owner pursuant to s. 714.17 ;
(e)Pay compensation to the receiver pursuant to s. 714.21 , and to each professional engaged by the receiver under s. 714.15 ;
(f)Recommend allowance or disallowance of a claim of a creditor pursuant to s. 714.20 ; and
(g)Make a distribution of receivership property pursuant to s. 714.20 .
(3)A receiver shall:
(a)Prepare and retain appropriate business records, including a record of each receipt, disbursement, and disposition of receivership property;
(b)Account for receivership property, including the proceeds of a sale, lease, license, exchange, collection, or other disposition of the property;
(c)File with the recording office of the county in which the real property is located a copy of the order appointing the receiver and, if a legal description of the real property is not included in the order, the legal description;
(d)Disclose to the court any fact arising during the receivership which would disqualify the receiver under s. 714.07 ; and
(e)Perform any duty imposed by court order, this chapter, or the laws of this state other than this chapter.
(4)The powers and duties of a receiver may be expanded, modified, or limited by court order.