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  1. 2023 N.C. Gen. Stat. (here)
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2023 North Carolina General Statutes
Chapter 1 - Civil Procedure
Article 38A - North Carolina Commercial Receivership Act.
§ 1-507.23 - Types of receiverships.

Universal Citation:
NC Gen Stat § 1-507.23 (2023)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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§ 1-507.23. Types of receiverships.

A receivership may be either a limited receivership or a general receivership. Any receivership which is based upon the foreclosure or enforcement of a security agreement, judgment lien, mechanic's lien, or other lien pursuant to which the debtor or any holder of a lien would have a statutory right of redemption, shall be a limited receivership. If the order appointing the receiver does not specify whether the receivership is a limited receivership or a general receivership, the receivership shall be a limited receivership unless and until the court by later order designates the receivership as a general receivership, notwithstanding that pursuant to G.S. 1-507.24(i), a receiver may otherwise have control over all the property of the debtor. At any time, the court may order a general receivership to be converted to a limited receivership and a limited receivership to be converted to a general receivership. (2020-75, s. 1.)


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