§ 657A.4 — Appointment of receiver

Iowa § 657A.4

• Jurisdiction: Iowa
• Title XV: JUDICIAL BRANCH AND JUDICIAL PROCEDURES
• Ch. 657A: ABANDONED OR UNSAFE BUILDINGS — ABATEMENT BY REHABILITATION

Text

After expiration of a date established pursuant to section 657A.3, subsection 1, or a hearing
pursuant to section 657A.3, the court may appoint a receiver to take possession and control
of the property in question. A person shall not be appointed as a receiver unless the person
has first provided the court with a viable financial and construction plan for the rehabilitation
of the property in question and has demonstrated the capacity and expertise to perform the
required work in a satisfactory manner. The appointed receiver may be a financial institution
that possesses an interest of record in the property, a nonprofit corporation that is duly
organized and exists for the primary purpose of improving housing conditions in the county
or city in which the property in question is located, or any person deemed qualified by the
court. No part of the net earnings of a nonprofit corporation serving as a receiver under this
sectionshallbenefitaprivateshareholderorindividual. Membershipontheboardoftrustees
of a nonprofit corporation does not constitute the holding of a public office or employment
and is not an interest, either direct or indirect, in a contract or expenditure of money by
a city or county. A member of a board of trustees of a nonprofit corporation appointed as
receiver is not disqualified from holding public office or employment and is also not required
to forfeit public office or employment by reason of the membership on the board of trustees.