§ 52-631 — Duties of owner.

(a) An owner shall: (1) Assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver's duties; (2) Preserve and turn over to the receiver all receivership property in the owner's possession, custody or control; (3) Identify all records and other information relating to the receivership property, including a password, authorization or other information needed to obtain or maintain access to or control of the receivership property, and make available to the receiver the records and information in the owner's possession, custody or control; (4) On subpoena, submit to examination under oath by the receiver concerning the acts, conduct, property, liabilities and financial condition of the owner or any matter relating to the receivership property or the receivership; and (5) Perform any duty imposed by court order, sections 52-619 to 52-646 , inclusive, or the law of this state other than sections 52-619 to 52-646 , inclusive. (b) If an owner is a person other than an individual, this section applies to each officer, director, manager, member, partner, trustee or other person exercising or having the power to exercise control over the affairs of the owner. (c) If a person knowingly fails to perform a duty imposed by this section, the court may: (1) Award the receiver actual damages caused by the person's failure, reasonable attorneys' fees and costs; and (2) Sanction the failure as civil contempt.

Legislative History

(P.A. 21-80, S. 13; 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. 13, from July 1, 2022, to July 1, 2023, effective May 10, 2022.