§ 1-507.30. Duties of debtor.

307 words·~1 min read·/nc/chapter-1/1-507-30

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Duties. - In addition to those duties conferred by statute or order of the court, the debtor has the following duties:

(1)To 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 to comply with all rules and orders of the court.

(2)To deliver to the receiver, immediately upon the receiver's appointment and demand, all of the receivership property in the debtor's possession, custody, or control, including all books and records, electronic data, passwords, access codes, statements of accounts, deeds, titles or other evidence of ownership, financial statements, financial and lien information, bank account statements, and all other papers and documents related to the receivership property.

(3)To supply to the receiver information as requested relating to the administration of the receivership and the receivership property, including information necessary to complete any reports or other documents that the receiver may be required to file.

(4)To remain responsible for the filing of all tax returns, including those returns applicable to periods which include those in which the receivership is in effect, except as otherwise ordered by the court.

(b)Debtor Not Individual. - If the debtor is not an individual, this section applies to each officer, director, manager, member, partner, trustee, or other person exercising or having the power to exercise control over the affairs of the debtor immediately before the appointment of the receiver.

(c)Enforcement. - If a person knowingly fails to perform a duty imposed by this section, the court may

(i)compel the person to comply with that duty,

(ii)award the receiver actual damages caused by the person's failure and reasonable attorneys' fees and costs, and

(iii)sanction the person for civil contempt. (2020-75, s. 1; 2021-93, s. 5.)