37.180 When court order required
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/or/ors-chapter-37/receivership/37-180·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
37.180 When court order required.
(1)A receiver may not take any of the following actions unless the receiver, after giving notice, obtains a court order specifically authorizing the action, except as provided in subsection
(2)of this section:
(a)Sale or other disposition of real property;
(b)Use or transfer of property outside the ordinary course of business;
(c)Sale of a co-owner’s interest in jointly owned property;
(d)Assumption of an executory contract;
(e)Obtaining credit or incurring debt outside the ordinary course of business;
(f)Compromise or settlement of a controversy that might affect the distribution to creditors from the estate;
(g)Disallowance of all or part of a claim against the estate; and
(h)Termination of the receivership.
(2)For any action described in subsection (1)(a) to
(f)of this section, a court may establish conditions under which a receiver may take the action without first obtaining an order specifically authorizing the action, if the court finds that the burden of seeking a court order is likely to outweigh the materiality of the actions under those conditions. The court may establish such conditions in the order appointing the receiver or in any other order. [2017 c.358 §18]