Washington Revised Code Title 7. Special Proceedings and Actions § 7.60.015. Types of receivers
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A receiver must be either a general receiver or a custodial receiver. A receiver must be a general receiver if the receiver is appointed to take possession and control of all or substantially all of a person's property with authority to liquidate that property and, in the case of a business over which the receiver is appointed, wind up affairs. A receiver must be a custodial receiver if the receiver is appointed to take charge of limited or specific property of a person or is not given authority to liquidate property. The court shall specify in the order appointing a receiver whether the receiver is appointed as a general receiver or as a custodial receiver. When the sole basis for the appointment is the pendency of an action to foreclose upon a lien against real property, or the giving of a notice of a trustee's sale under RCW 61.24.040 or a notice of forfeiture under RCW 61.30.040, the court shall appoint the receiver as a custodial receiver. The court by order may convert either a general receivership or a custodial receivership into the other.
Cite this article: FindLaw.com - Washington Revised Code Title 7. Special Proceedings and Actions § 7.60.015. Types of receivers - last updated April 06, 2022 | https://codes.findlaw.com/wa/title-7-special-proceedings-and-actions/wa-rev-code-7-60-015.html
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