North Dakota § 32-10.1-10 Collection and turnover of receivership property

North Dakota Statutes

§ 32-10.1-10 — Collection and turnover of receivership property

North Dakota § 32-10.1-10

Title 32Judicial Remedies

Ch. 32-10.1Uniform Commercial Real Estate Receivership Act

This text of North Dakota § 32-10.1-10 (Collection and turnover of receivership property) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 32-10.1-10 (2026).

Text

1.Unless the court orders otherwise, on demand by a receiver:

a.A person that owes a debt that is receivership property and is matured or payable on demand or on order shall pay the debt to or on the order of the receiver, except to the extent the debt is subject to setoff or recoupment; and

b.Subject to subsection 3, a person that has possession, custody, or control of receivership property shall turn the property over to the receiver.

2.A person that has notice of the appointment of a receiver and owes a debt that is receivership property may not satisfy the debt by payment to the owner.

3.If a creditor has possession, custody, or control of receivership property and the validity, perfection, or priority of the creditor's lien on the property depends on the creditor's possession, c

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1. Unless the court orders otherwise, on demand by a receiver:

a. A person that owes a debt that is receivership property and is matured or payable
on demand or on order shall pay the debt to or on the order of the receiver,
except to the extent the debt is subject to setoff or recoupment; and
b. Subject to subsection 3, a person that has possession, custody, or control of
receivership property shall turn the property over to the receiver.
2. A person that has notice of the appointment of a receiver and owes a debt that is
receivership property may not satisfy the debt by payment to the owner.
3. If a creditor has possession, custody, or control of receivership property and the
validity, perfection, or priority of the creditor's lien on the property depends on the
creditor's possession, custody, or control, the creditor may retain possession, custody,
or control until the court orders adequate protection of the creditor's lien.
4. Unless a bona fide dispute exists about a receiver's right to possession, custody, or
control of receivership property, the court may sanction a person's failure to turn the
property over when required by this section as civil contempt.