Connecticut § 52-626 Receiver's bond; alternative security.

Connecticut Statutes

§ 52-626 — Receiver's bond; alternative security.

Connecticut § 52-626

Title 52Civil Actions

Ch. 930Uniform Commercial Real Estate Receivership Act

This text of Connecticut § 52-626 (Receiver's bond; alternative security.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 52-626 (2026).

Text

(a)Except as provided in subsection (b) of this section, a receiver shall post with the court a bond that:

(1)Is conditioned on the faithful discharge of the receiver's duties;

(2)Has one or more sureties approved by the court;

(3)Is in an amount the court specifies; and (4) Is effective as of the date of the receiver's appointment.

(b)The court may approve the posting by a receiver with the court of alternative security such as a letter of credit or deposit of funds. The receiver may not use receivership property as alternative security. Interest that accrues on deposited funds must be paid to the receiver on the receiver's discharge.

(c)The court may authorize a receiver to act before the receiver posts the bond or alternative security required by this section.

(d)A claim against

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(a) Except as provided in subsection (b) of this section, a receiver shall post with the court a bond that: (1) Is conditioned on the faithful discharge of the receiver's duties; (2) Has one or more sureties approved by the court; (3) Is in an amount the court specifies; and (4) Is effective as of the date of the receiver's appointment. (b) The court may approve the posting by a receiver with the court of alternative security such as a letter of credit or deposit of funds. The receiver may not use receivership property as alternative security. Interest that accrues on deposited funds must be paid to the receiver on the receiver's discharge. (c) The court may authorize a receiver to act before the receiver posts the bond or alternative security required by this section. (d) A claim against a receiver's bond or alternative security must be made not later than one year after the date the receiver is discharged.

Legislative History

(P.A. 21-80, S. 8; P.A. 22-26, S. 64.) History: P.A. 21-80 effective July 1, 2022; P.A. 22-26 changed effective date of P.A. 21-80, S. 8, from July 1, 2022, to July 1, 2023, effective May 10, 2022.