§ 5228 — Receivers

New York § 5228

• Jurisdiction: New York
• Law CVP: Civil Practice Law & Rules
• Art. 52: Enforcement of Money Judgments

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§ 5228. Receivers. (a) Appointment of receiver. Upon motion of a\njudgment creditor, upon such notice as the court may require, the court\nmay appoint a receiver who may be authorized to administer, collect,\nimprove, lease, repair or sell any real or personal property in which\nthe judgment debtor has an interest or to do any other acts designed to\nsatisfy the judgment. As far as practicable, the court shall require\nthat notice be given to the judgment debtor and to any other judgment\ncreditors of the judgment debtor. The order of appointment shall specify\nthe property to be received, the duties of the receiver and the manner\nin which they are to be performed. A receiver shall have no power to\nemploy counsel unless expressly so authorized by order of the court. A\nreceiver shall be entitled to necessary expenses and to such\ncommissions, not exceeding five percent of the sums received and\ndisbursed by him, as the court which appointed him allows, but if a\njudgment creditor is appointed receiver, he shall not be entitled to\ncompensation. If a receiver has been appointed, a court making an order\ndirecting payment, or delivery, of property shall direct that payment,\nor delivery, be made to the receiver rather than to a sheriff. Sections\n6402, 6403, 6404 and 6405 are applicable to receivers appointed under\nthis subdivision.\n (b) Extension of receivership. Where a receiver has been appointed,\nthe court, upon motion of a judgment creditor, upon such notice as it\nmay require, shall extend the receivership to his judgment.\n