§ 16-110-121 - Collection, preservation, and sale of property.
16-110-121. Collection, preservation, and sale of property.
(a) (1) The court shall make proper orders for the preservation and use of the property during the pending of the action and for paying into court or securing the debts and funds attached.
(2) It may direct a sale of the property where, by reason of its perishable nature or of the cost of keeping it, a sale would be for the benefit of the parties.
(A) In vacation, the sale may be ordered by the judge of the court.
(B) The sale shall be public, after advertisement, and made in such manner and upon such terms of credit, with security, as the court or judge, having regard to the probable duration of the action, may direct.
(C) The proceeds, if collected by the sheriff, together with all the money received by him or her from garnishees, shall be held and paid over by him or her under the same requirement and responsibilities of the sheriff and his or her sureties, as are provided in respect to money deposited in lieu of bail.
(D) But no sale shall be made in vacation without reasonable notice in writing to the opposite party or his or her attorney, if either of them reside in the county in which the cause is pending, of the time and place of the application therefor.
(b) (1) A judge of the circuit court in vacation of the circuit court shall have power to appoint a receiver to take charge of, collect, and account for all choses in action attached in any action, and said receiver shall have full power to collect the choses in action. He or she shall give bond and in all respects be subject to the same responsibilities as if appointed by the court in term time.
(2) The defendant or any claimant of any attached property may be required by the court or by the receiver to give information on oath respecting the property.