13.01 Disqualification 13.02 Exception 13.03 Attorneys for Receivers 13.04 Inventories of Receivers 13.05 Appraisal for Receivers 13.06 Report of Receivers 13.07 Receiver's Bonds 13.01 DISQUALIFICATION Except as provided in Rule 13.02 of this rule or any applicable statute, an appointment as receiver shall not be granted to an individual or to a corporation having a principle officer, who: is related by blood or marriage to a party or to an attorney in the action; is an attorney for, or counsel for any party in this action; is an officer, director, stockholder, or employee of a corporation, the assets of which are the subject of the action; or, stands in any relation to the subject of the controversy to the extent that such would in any way interfere with the impartial discharge of the receiver's duties as an officer of the court. (Adopted 10/1991) Back to the Top 13.02 EXCEPTION If the court is satisfied that the best interests of an estate would thereby be served, an individual or corporation otherwise disqualified under Rule 13.01 of this rule may be appointed as receiver by an order specifically setting forth the reasons for departing from the general rule. A receiver so appointed shall serve wholly without compensation, unless otherwise ordered by the court for good cause. Back to the Top 13.03 ATTORNEYS FOR RECEIVERS An attorney for a receiver shall be employed only upon order of the court upon written motion of the receiver stating the reasons for the requested employment and naming the attorney to be employed. (Adopted 10/1991) Back to the Top 13.04 INVENTORIES OF RECEIVERS No later than thirty (30) days after appointment, the receiver shall file with the court a detailed report and inventory of all property, real and personal, of the estate and shall delineate the property then within the receiver's possession or control. Appendix K (Adopted 10/1991) Back to the Top 13.05 APPRAISAL FOR RECEIVERS a. Appraisers Appraisers for a receiver may be appointed only upon order of court or agreement of the parties with the approval of the court. b. Appraisal by Receiver If appraisers are not appointed, the receiver shall investigate the value of all property of the estate and shall show in the inventory the value of the several items listed as disclosed by the investigation. (Adopted 10/1991) Back to the Top 13.06 REPORT OF RECEIVERS a. Time for Filing The first report of the receiver shall be filed at the time of filing of the inventory. Additional receiver reports shall be filed at least annually thereafter. Other special reports may be ordered by the court. A final report shall be filed upon the termination of the receivership. b. Forms The court may prescribe forms to be used for reports of a receiver. (Adopted 10/1991) Back to the Top 13.07 RECEIVER'S BONDS a. Personal Sureties Bonds with personal sureties shall be approved by the court. Unless excused by the court, sureties shall execute and file a schedule of property in a form approved by the court. (See Appendix L) b. Surety Companies Bond with a corporation or association licensed to transact surety business in this state as surety shall be approved only if a current certified copy of the surety's authority to transact business in the state, as issued by the Director of Insurance, is on file with the clerk of the court, and verified power of attorney or certificates of authority for all persons authorized to execute bonds for the surety is attached to the bond. (Adopted 10/1991) Back to the Top
