30-14-132. Powers of receiver -- proof of damages -- jurisdiction.
30-14-132. Powers of receiver -- proof of damages -- jurisdiction. (1) When a receiver is appointed by the court pursuant to this part, the receiver has the power to sue for, collect, receive, and take into possession all goods and chattels, rights and credits, moneys and effects, lands and tenements, books, records, documents, papers, choses in action, bills, notes, and property of every description derived by means of any practice declared to be illegal and prohibited by this part, including property with which the property has been mingled if it cannot be identified in kind because of the commingling, and to sell, convey, and assign the same and hold and dispose of the proceeds of the property under the direction of the court.
(2) Any person who has suffered damages as a result of the use or employment of any unlawful practice and submits proof to the satisfaction of the court that the person has in fact been damaged may participate with general creditors in the distribution of the assets to the extent the person has sustained out-of-pocket losses.
(3) In the case of a partnership or business entity, the receiver shall settle the estate and distribute the assets under the direction of the court.
(4) The court has jurisdiction of all questions arising in the proceedings and may make orders and judgments as may be required.
History: En. Sec. 7, Ch. 275, L. 1973; amd. Sec. 8, Ch. 265, L. 1977; R.C.M. 1947, 85-407; amd. Sec. 957, Ch. 56, L. 2009.