West Virginia § 55-21-11 Collection and turnover of receivership property

West Virginia Statutes

§ 55-21-11 — Collection and turnover of receivership property

West Virginia § 55-21-11

Ch. 55ACTIONS, SUITS AND ARBITRATION; JUDICIAL SALE

Art. 21UNIFORM COMMERCIAL REAL ESTATE RECEIVERSHIP ACT

This text of West Virginia § 55-21-11 (Collection and turnover of receivership property) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 55-21-11 (2026).

Text

(a)Unless the court orders otherwise, on demand by a receiver:

(1)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

(2)Subject to subsection (c) of this section, a person that has possession, custody, or control of receivership property shall turn the property over to the receiver.

(b)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.

(c)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 th

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(a) Unless the court orders otherwise, on demand by a receiver:

(1) 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

(2) Subject to subsection (c) of this section, a person that has possession, custody, or control of receivership property shall turn the property over to the receiver.

(b) 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.

(c) 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.

(d) Unless a bona fide dispute exists about a receiver’s right to possession, custody, or control of receivership property, the court may sanction as civil contempt a person’s failure to turn the property over when required by this section.