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Current as of May 05, 2022 | Updated by FindLaw Staff
(1) An owner shall:
(a) assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver's duties;
(b) preserve and turn over to the receiver all receivership property in the owner's possession, custody, or control;
(c) identify all records and other information relating to the receivership property, including a password, authorization, or other information needed to obtain or maintain access to or control of the receivership property, and make available to the receiver the records and information in the owner's possession, custody, or control;
(d) on subpoena, submit to examination under oath by the receiver concerning the acts, conduct, property, liabilities, and financial condition of the owner or any matter relating to the receivership property or the receivership; and
(e) perform any duty imposed by court order, this chapter, or a law of the state other than this chapter.
(2) If an owner is a person other than an individual, this section applies to each officer, director, manager, member, partner, trustee, or other person exercising or having the power to exercise control over the affairs of the owner.
(3) If a person knowingly fails to perform a duty imposed by this section, the court may:
(a) award the receiver actual damages caused by the person's failure, reasonable attorney fees, and costs; and
(b) sanction the failure as civil contempt.
Cite this article: FindLaw.com - Utah Code Title 78B. Judicial Code § 78B-21-113. Duties of owner - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-78b-judicial-code/ut-code-sect-78b-21-113/
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 or via Westlaw before relying on it for your legal needs.
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