MCL - Act 16 of 2018
AN ACT to enact the receivership act; to provide for the appointment of receivers to take possession of commercial property of another and to receive, collect, care for, and dispose of the property or proceeds of the property; and to provide remedies related to the receiverships.
History: 2018, Act 16, Eff. May 7, 2018
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Am. 2020, Act 210, Imd. Eff. Oct. 15, 2020
Document | Type | Description |
---|---|---|
Section 554.1011 | Section | Short title. |
Section 554.1012 | Section | Definitions. |
Section 554.1013 | Section | Court order; issuance; notice and hearing; circumstances. |
Section 554.1014 | Section | Applicability of act; scope; limitation. |
Section 554.1015 | Section | Selection, appointment, removal, and compensation of receiver; establishment by court rule; jurisdiction. |
Section 554.1016 | Section | Appointment of receiver; circumstances; appointment without prior notice or hearing; security. |
Section 554.1017 | Section | Appointment of receiver; objection; requirements; disqualifications. |
Section 554.1018 | Section | Bond; alternative security. |
Section 554.1019 | Section | Status of receiver as lien creditor. |
Section 554.1020 | Section | Acquisition of property after appointment as receiver; security agreement. |
Section 554.1021 | Section | Receivership property; duties of person upon demand of receiver; failure to turn over property; sanction. |
Section 554.1022 | Section | Powers and duties of receiver. |
Section 554.1023 | Section | Duties of owner. |
Section 554.1024 | Section | Stay or injunction. |
Section 554.1025 | Section | Engagement of professional; compensation. |
Section 554.1026 | Section | "Good faith" defined; use or transfer of receivership property not in ordinary course of business. |
Section 554.1027 | Section | "Timeshare interest" defined; executory contract. |
Section 554.1028 | Section | Defenses and immunities of receiver. |
Section 554.1029 | Section | Quarterly interim report of receiver. |
Section 554.1030 | Section | Notice of order governing appointment; notice to all creditors; claim; distribution of receivership property. |
Section 554.1031 | Section | Fees and expenses. |
Section 554.1032 | Section | Removal of receiver; replacement; discharge; termination. |
Section 554.1033 | Section | Final report of receiver; contents; discharge. |
Section 554.1034 | Section | Receivership in another state; rights, powers, and duties of ancillary receiver. |
Section 554.1035 | Section | Enforcement by secured party; effect. |
Section 554.1036 | Section | Uniformity of law. |
Section 554.1037 | Section | Electronic signatures in global and national commerce act. |
Section 554.1038 | Section | Receiver appointed before effective date of act. |
Section 554.1040 | Section | Effective date. |