32-10 Receivers
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<![CDATA[CHAPTER 32-10RECEIVERS32-10-01. Receiver - When appointed. A receiver may be appointed by the court inwhich an action is pending, or by a judge thereof:1.In an action by a vendor to vacate a fraudulent purchase of property, or by a creditor<br>to subject any property or fund to the creditor's claim, or between partners or others<br>jointly owning or interested in any property or fund, on the application of the plaintiff,<br>or of any party whose right to or interest in the property or fund or the proceeds<br>thereof is probable, and when it is shown that the property or fund is in danger of<br>being lost, removed, or materially injured.2.In an action by a mortgagee for the foreclosure of the mortgage and sale of the<br>mortgaged property, when it appears that the mortgaged property is in danger of<br>being lost, removed, or materially injured, or that the conditions of the mortgage<br>have not been performed and that the property is probably insufficient to discharge<br>the mortgage debt.3.After judgment, to carry the judgment into effect.4.After judgment, to dispose of the property according to the judgment or to preserve it<br>during the pendency of an appeal, or in proceedings in aid of execution, when an<br>execution has been returned unsatisfied, or when the judgment debtor refuses to<br>apply the debtor's property in satisfaction of the judgment.5.In the cases provided in this code, when a corporation or limited liability company<br>has been dissolved, or is insolvent or in imminent danger of insolvency, or has<br>forfeited its corporate rights, and in like cases within this state, of foreign<br>corporations and of foreign limited liability companies.6.In all other cases in which receivers heretofore have been appointed by the usages<br>of courts of equity.32-10-02. Who may be receiver - Undertaking by applicant.No party or personinterested in an action can be appointed receiver therein without the written consent of the<br>opposing party filed with the clerk. If a receiver is appointed upon an ex parte application, the<br>court before making the order may require from the applicant an undertaking with sufficient<br>sureties in an amount to be fixed by the court, to the effect that the applicant will pay to the<br>defendant all damages the defendant may sustain by reason of the appointment of such receiver<br>and the entry by the receiver upon the receiver's duties, in case the applicant shall have procured<br>such appointment wrongfully, maliciously, or without sufficient cause, and the court in its<br>discretion at any time after said appointment may require an additional undertaking.32-10-03. Qualification of receiver. Before entering upon the duties of receiver, thereceiver must be sworn to perform them faithfully, and, with one or more sureties approved by<br>the court or judge, must execute an undertaking to such person and in such sum as the court<br>may direct, to the effect that the receiver will faithfully discharge the duties of receiver in the<br>action and will obey the orders of the court therein.32-10-04. Powers. The receiver, under the control of the court, has power to bring anddefend actions in the receiver's own name as receiver, to take and keep possession of the<br>property, to receive rents, to collect debts, to compromise the same, to make transfers, and<br>generally to do such acts respecting the property as the court may authorize.32-10-05. Investment of funds on consent. Funds in the hands of a receiver may beinvested upon interest by order of the court, but no such order can be made except upon the<br>consent of all the parties to the action.Page No. 1Document Outlinechapter 32-10 receivers]]>