501A.1209 - RECEIVER QUALIFICATIONS AND POWERS.
501A.1209 RECEIVER QUALIFICATIONS AND POWERS. 1. Qualifications. A receiver shall be a natural person or a domestic business entity or a foreign business entity authorized to transact business in this state. A receiver shall give a bond as directed by the court with the sureties required by the court. 2. Powers. A receiver may sue and defend in all courts as receiver of the cooperative. The court appointing the receiver has exclusive jurisdiction of the cooperative and its property.
Section History: Recent Form 2005 Acts, ch 135, §93