(a) A receiver may petition the court appointing him for an order to show cause why
he should not be permitted to resign.
(b) The petition shall be accompanied by a verified account of all the assets of the
corporation received by him, of all payments or other disposition thereof made by
him, of the remaining assets of the corporation in respect to which he was appointed
receiver and the situation of the same, and of all his transactions as receiver. Thereupon, the court shall grant an order directing notice to be given to the sureties
on his official bond and to all persons interested in the property of the corporation
to show cause, at a time and place specified, why the receiver should not be permitted
to resign. Such notice shall be published once in each week for six successive weeks in one
or more newspapers as the court shall direct. If it shall appear that the proceedings of the receiver in the discharge of his
trust have been fair and honest and that there is no good cause to the contrary, the
court shall make an order permitting such receiver to resign. Thereupon he shall be discharged and his powers as receiver shall cease, but he
shall remain subject to any liability incurred prior to the making of such order. The court, in its discretion, may require the expense of such proceeding to be paid
by the receiver presenting the petition.
(c) Any vacancy created by resignation, removal, death or otherwise, may be filled
by the court, and the property of the receivership shall be delivered to the remaining
receivers or, if there are none, to the successor appointed by the court. The court may summarily enforce delivery by order in the action or special proceeding
in which the receiver was appointed.
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