Section 9: Property; management and sale
184 words·~1 min read·
/ma/part-ii/title-ii/chapter-200/9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 9. The court may make orders for the care, custody, leasing and investing of all property and its proceeds in the possession of the receiver. If any of said property consists of live animals or is perishable or cannot be kept without great or disproportionate expense, the court may order such property to be sold at public or private sale. After the appointment of a receiver, upon his petition and after notice, the court may order all or part of said property, including the rights of the absentee in land, to be sold at public or private sale to supply money for payments authorized by this chapter or investment approved by the court.
Except as provided by order of the court, the receiver shall have the following powers:
(1)to sell any personal property in the possession of the receiver or any interest therein, for cash, credit or for part cash and part credit, and with or without security for unpaid balances.
(2)to invest in prudent investments.
(3)to effect a fair and reasonable compromise with any debtor, creditor, obligor or obligee.