New York Civil Practice
Law & Rules


NYCPLR Article 64

RECEIVERSHIP

6401. Appointment and powers of temporary receiver. (a) Appointment of temporary receiver; joinder of moving party. (b) Powers of temporary receiver. (c) Duration of temporary receivership. 6402. Oath. 6403. Undertaking. 6404. Accounts. 6405. Removal. S 6401. Appointment and powers of temporary receiver. (a) Appointment of temporary receiver; joinder of moving party. Upon motion of a person having an apparent interest in property which is the subject of an action in the supreme or a county court, a temporary receiver of the property may be appointed, before or after service of summons and at any time prior to judgment, or during the pendency of an appeal, where there is danger that the property will be removed from the state, or lost, materially injured or destroyed. A motion made by a person not already a party to the action constitutes an appearance in the action and the person shall be joined as a party. (b) Powers of temporary receiver. The court appointing a receiver may authorize him to take and hold real and personal property, and sue for, collect and sell debts or claims, upon such conditions and for such purposes as the court shall direct. A receiver shall have no power to employ counsel unless expressly so authorized by order of the court. Upon motion of the receiver or a party, powers granted to a temporary receiver may be extended or limited or the receivership may be extended to another action involving the property. (c) Duration of temporary receivership. A temporary receivership shall not continue after final judgment unless otherwise directed by the court. S 6402. Oath. A temporary receiver, before entering upon his duties, shall be sworn faithfully and fairly to discharge the trust committed to him. The oath may be administered by any person authorized to take acknowledgments of deeds by the real property law. The oath may be waived upon consent of all parties. S 6403. Undertaking. A temporary receiver shall give an undertaking in an amount to be fixed by the court making the appointment, that he will faithfully discharge his duties. S 6404. Accounts. A temporary receiver shall keep written accounts itemizing receipts and expenditures, and describing the property and naming the depository of receivership funds, which shall be open to inspection by any person having an apparent interest in the property. Upon motion of the receiver or of any person having an apparent interest in the property, the court may require the keeping of particular records or direct or limit inspection or require presentation of a temporary receiver`s accounts. Notice of a motion for the presentation of a temporary receiver`s accounts shall be served upon the sureties on his undertaking as well as upon each party. S 6405. Removal. Upon motion of any party or upon its own initiative, the court which appointed a receiver may remove him at any time.

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