2011 US Code
Title 28 - Judiciary and Judicial Procedure
Part VI - PARTICULAR PROCEEDINGS (§§ 2201 - 4105)
Chapter 176 - FEDERAL DEBT COLLECTION PROCEDURE (§§ 3001 - 3308)
Subchapter B - PREJUDGMENT REMEDIES (§§ 3101 - 3105)
Section 3103 - Receivership
View MetadataPublication Title | United States Code, 2006 Edition, Supplement 5, Title 28 - JUDICIARY AND JUDICIAL PROCEDURE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 28 - JUDICIARY AND JUDICIAL PROCEDURE PART VI - PARTICULAR PROCEEDINGS CHAPTER 176 - FEDERAL DEBT COLLECTION PROCEDURE SUBCHAPTER B - PREJUDGMENT REMEDIES Sec. 3103 - Receivership |
Contains | section 3103 |
Date | 2011 |
Laws in Effect as of Date | January 3, 2012 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Added Pub. L. 101-647, title XXXVI, §3611, Nov. 29, 1990, 104 Stat. 4944. |
Statutes at Large Reference | 104 Stat. 4944 |
Public Law Reference | Public Law 101-647 |
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(a)
(b)
(A) to take possession of real and personal property and sue for, collect, and sell obligations upon such conditions and for such purposes as the court shall direct; and
(B) to administer, collect, improve, lease, repair or sell pursuant to section 3007 such real and personal property as the court shall direct.
A receiver appointed to manage residential or commercial property shall have demonstrable expertise in the management of these types of property.
(2) Unless expressly authorized by order of the court, a receiver shall have no power to employ attorneys, accountants, appraisers, auctioneers, or other professional persons.
(c)
(d)
(e)
(f)
(g)
(2) If, at the termination of a receivership, there are no funds in the hands of a receiver, the court may fix the compensation of the receiver in accordance with the services rendered and may direct the party who moved for the appointment of the receiver to pay such compensation in addition to the necessary expenditures incurred by the receiver which remain unpaid.
(3) At the termination of a receivership, the receiver shall file a final accounting of the receipts and disbursements and apply for compensation setting forth the amount sought and the services rendered by the receiver.
(Added Pub. L. 101–647, title XXXVI, §3611, Nov. 29, 1990, 104 Stat. 4944.)
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