Tennessee § 29-40-124 Receivership in another state - Ancillary proceeding

Tennessee Statutes

§ 29-40-124 — Receivership in another state - Ancillary proceeding

(a)The court may appoint a receiver appointed in another state, or that person's nominee, as an ancillary receiver with respect to property located in this state or subject to the jurisdiction of the court for which a receiver could be appointed under this chapter, if:

(1)The person or nominee would be eligible to serve as receiver under § 29-40-107 ; and (2) The appointment furthers the person's possession, custody, control, or disposition of property subject to the receivership in the other state.

(b)The court may issue an order that gives effect to an order entered in another state appointing or directing a receiver.

(c)Unless the court orders otherwise, an ancillary receiver appointed under subsection (a) has the rights, powers, and duties of a receiver appointed under this chapter

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(a) The court may appoint a receiver appointed in another state, or that person's nominee, as an ancillary receiver with respect to property located in this state or subject to the jurisdiction of the court for which a receiver could be appointed under this chapter, if: (1) The person or nominee would be eligible to serve as receiver under § 29-40-107 ; and (2) The appointment furthers the person's possession, custody, control, or disposition of property subject to the receivership in the other state. (b) The court may issue an order that gives effect to an order entered in another state appointing or directing a receiver. (c) Unless the court orders otherwise, an ancillary receiver appointed under subsection (a) has the rights, powers, and duties of a receiver appointed under this chapter.

Tennessee § 29-40-124 (Receivership in another state - Ancillary proceeding) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.