RCW 7.60.015
208 words·~1 min read·
/wa/title-7/chapter-7-60/7-60-015·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A receiver must be either a general receiver or a custodial receiver. A receiver must be a general receiver if the receiver is appointed to take possession and control of all or substantially all of a person's property with authority to liquidate that property and, in the case of a business over which the receiver is appointed, wind up affairs. A receiver must be a custodial receiver if the receiver is appointed to take charge of limited or specific property of a person or is not given authority to liquidate property.
The court shall specify in the order appointing a receiver whether the receiver is appointed as a general receiver or as a custodial receiver. When the sole basis for the appointment is the pendency of an action to foreclose upon a lien against real property, or the giving of a notice of a trustee's sale under RCW 61.24.040 or a notice of forfeiture under RCW 61.30.040 , the court shall appoint the receiver as a custodial receiver. The court by order may convert either a general receivership or a custodial receivership into the other.
[ 2004 c 165 s 3 .]
Notes:
Purpose — Captions not law — 2004 c 165: See notes following RCW 7.60.005 .