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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) The Superior Court may remove a receiver for cause.
(b) The Superior Court shall replace a receiver that dies, resigns, or is removed.
(c) If the Superior Court finds that a receiver that resigns or is removed, or the representative of a receiver that is deceased, has accounted fully for and turned over to the successor receiver all receivership property and has filed a report of all receipts and disbursements during the service of the replaced receiver, the replaced receiver is discharged.
(d) The Superior Court may discharge a receiver and terminate the Superior Court's administration of the receivership property if the Superior Court finds that appointment of the receiver was improvident or that the circumstances no longer warrant continuation of the receivership. If the Superior Court finds that the appointment was sought wrongfully or in bad faith, the Superior Court may assess against the person that sought the appointment:
(1) The fees and expenses of the receivership, including reasonable attorney's fees and costs; and
(2) Actual damages caused by the appointment, including reasonable attorney's fees and costs.
Cite this article: FindLaw.com - District of Columbia Code Division VII. Property. § 42-1661. Removal of receiver; replacement; termination of receivership. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-vii-property/dc-code-sect-42-1661/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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