§ 1-507.35. Records; interim reports; status hearings.

275 words·~1 min read·/nc/chapter-1/1-507-35

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(a)Preparation and Retention of Records. - The receiver shall prepare and retain appropriate business records, including records of all cash receipts, disbursements and dispositions of receivership property. After due consideration of issues of confidentiality, the records may be provided by the receiver to parties in interest or shall be provided as ordered by the court.

(b)Interim Reports. - The court may order the receiver to prepare and file interim reports addressing the following:

(1)The activities of the receiver since appointment or the last report.

(2)Any receipts and disbursements, including payments made to professionals retained by the receiver.

(3)Any distributions of money and property of the receivership estate.

(4)Any fees and expenses of the receiver and, if not filed separately, a request for approval of payment of the fees and expenses.

(5)Any other information required by the court.

The order may provide for the delivery of the receiver's interim reports to persons on the master service list and to other persons and may provide a procedure for objection to the interim reports, and may also provide that the failure to object constitutes a waiver of objection to matters addressed in the interim reports.

(c)Status Hearings. - From time to time, upon motion of the receiver or any party in interest, or at such time or times as the court may deem appropriate, the court shall schedule status hearings to review the status of the receivership. Upon the scheduling of a status hearing, the receiver shall give notice thereof to all persons on the most current master service list. (2020-75, s. 1.)