Receiver, powers and duties of
When a court appoints a receiver (a person put in charge by the court), that receiver has the power to collect all money, property, records, and belongings tied to illegal business activity. The receiver can sell that property and hold the money until the court decides what to do with it. People who lost money because of the illegal activity can show proof of their losses and get some of that money back, along with other creditors. The court stays in charge of the whole process and makes all the final decisions.
407.105. , powers and duties of. — When a receiver is appointed by the court section 407.100, he may sue for, collect, receive and take into his possession all the , rights and credits, moneys and , , books, records, documents, papers, , bills, notes and property of every description, derived by means of any method, act, use, practice or , or any combination thereof, declared to be or prohibited by this chapter, including property with which such property has been mingled if it cannot be identified in kind because of such , and to sell, , and the same and hold and dispose of the thereof under the direction of the court. Any person who has suffered as a result of the use or of any unlawful methods, acts, uses, practices or solicitations, or any combination thereof, and submits to the of the court that he has in fact been damaged, may participate with in the distribution of the to the extent he has . In the case of a or , the receiver shall settle the and the assets under the direction of the court. The court shall have of all questions arising in such proceedings and may make such orders and judgments therein as may be required.
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Source & history notes
(L. 1973 H.B. 55, A.L. 1985 H.B. 96, et al., A.L. 1986 S.B. 685) Effective 5-01-86
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.