§ 32-10.1-21 — Removal of receiver - Replacement - Termination of receivership

North Dakota § 32-10.1-21

• Jurisdiction: North Dakota
• Title 32: Judicial Remedies
• Ch. 32-10.1: Uniform Commercial Real Estate Receivership Act

Text

1. The court may remove a receiver for cause.
2. The court shall replace a receiver that dies, resigns, or is removed.
3. If the court finds that a receiver that resigns or is removed, or the representative of a
receiver who is deceased, has accounted fully for and turned over to the successor
receiver all receivership property and has filed a report of all receipts and
disbursements during the service of the replaced receiver, the replaced receiver is
discharged.
4. The court may discharge a receiver and terminate the court's administration of the
receivership property if the court finds appointment of the receiver was improvident or
the circumstances no longer warrant continuation of the receivership. If the court finds
the appointment was sought wrongfully or in bad faith, the court may assess against
the person that sought the appointment:
a. The fees and expenses of the receivership, including reasonable attorney's fees
and costs; and
b. Actual damages caused by the appointment, including reasonable attorney's fees
and costs.