Conn. Gen. Stat. § 52-619
Short title: Uniform Commercial Real Estate Receivership Act
Sections 52-619 to 52-646, inclusive, may be cited as the “Uniform Commercial Real Estate Receivership Act”.
General Statutes of Connecticut Chapter 930 — Uniform Commercial Real Estate Receivership Act
Connecticut · statute · Conn. Gen. Stat. ch. 930 · 28 active provisions
Provisions
Conn. Gen. Stat. § 52-620
Definitions
As used in sections 52-619 to 52-646, inclusive: (1) “Affiliate” means: (A) With respect to an individual: (i) A companion of the individual; (ii) A lineal ancestor or descendant, whether by blood or adoption, of (I) the individual; or (II) a companion of the individual; (iii) A companion of an ancestor or descendant d…
Conn. Gen. Stat. § 52-621
Notice and opportunity for hearing
(a) Except as provided in subsection (b) of this section, the court may issue an order under sections 52-619 to 52-646, inclusive, only after notice and an opportunity for a hearing that the court deems appropriate in the circumstances. (b) The court may issue an order under sections 52-619 to 52-646, inclusive: (1) Wi…
Conn. Gen. Stat. § 52-622
Scope. Exclusions
(a) Except as provided in subsection (b) or (c) of this section, sections 52-619 to 52-646, inclusive, apply to a receivership for an interest in real property and any personal property related to or used in operating the real property. (b) Sections 52-619 to 52-646, inclusive, do not apply to a receivership for an int…
Conn. Gen. Stat. § 52-623
Power of court
The court that appoints a receiver under sections 52-619 to 52-646, inclusive, has exclusive jurisdiction to direct the receiver and determine any controversy related to the receivership or receivership property.
Conn. Gen. Stat. § 52-624
Appointment of receiver
(a) The court may appoint a receiver: (1) Before judgment, to protect a party that demonstrates an apparent right, title or interest in real property that is the subject of the action, if the property or its revenue-producing potential: (A) Is being subjected to or is in danger of waste, loss, dissipation or impairment…
Conn. Gen. Stat. § 52-625
Disqualification from appointment as receiver; disclosure of interest
(a) The court may not appoint a person as receiver unless the person submits to the court a statement under penalty of perjury that the person is not disqualified. (b) Except as provided in subsection (c) of this section, a person is disqualified from appointment as receiver if the person: (1) Is an affiliate of a part…
Conn. Gen. Stat. § 52-626
Receiver's bond; alternative security
(a) Except as provided in subsection (b) of this section, a receiver shall post with the court a bond that: (1) Is conditioned on the faithful discharge of the receiver's duties; (2) Has one or more sureties approved by the court; (3) Is in an amount the court specifies; and (4) Is effective as of the date of the recei…
Conn. Gen. Stat. § 52-627
Status of receiver as lien creditor
On appointment of a receiver, the receiver has the status of a lien creditor under: (1) Article 9 of title 42a as to receivership property that is personal property or fixtures; and (2) Any provision of the general statutes that provides for filing on the land records of a town a certificate as to receivership property…
Conn. Gen. Stat. § 52-628
Security agreement covering after-acquired property
Except as provided by the law of this state other than sections 52-619 to 52-646, inclusive, property that a receiver or owner acquires after appointment of the receiver is subject to a security agreement entered into before the appointment to the same extent as if the court had not appointed the receiver.
Conn. Gen. Stat. § 52-629
Collection and turnover of receivership property
(a) Unless the court orders otherwise, on demand by a receiver: (1) A person that owes a debt that is receivership property and is matured or payable on demand or on order shall pay the debt to or on the order of the receiver, except to the extent the debt is subject to setoff or recoupment; and (2) Subject to subsecti…
Conn. Gen. Stat. § 52-630
Powers and duties of receiver
(a) Except as limited by court order or law of this state other than sections 52-619 to 52-646, inclusive, a receiver may: (1) Collect, control, manage, conserve and protect receivership property; (2) Operate a business constituting receivership property, including preservation, use, sale, lease, license, exchange, col…
Conn. Gen. Stat. § 52-631
Duties of owner
(a) An owner shall: (1) Assist and cooperate with the receiver in the administration of the receivership and the discharge of the receiver's duties; (2) Preserve and turn over to the receiver all receivership property in the owner's possession, custody or control; (3) Identify all records and other information relating…
Conn. Gen. Stat. § 52-632
Stay; injunction
(a) Except as provided in subsection (d) of this section or ordered by the court, an order appointing a receiver operates as a stay, applicable to all persons, of an act, action or proceeding: (1) To obtain possession of, exercise control over or enforce a judgment against receivership property; and (2) To enforce a li…
Conn. Gen. Stat. § 52-633
Engagement and compensation of professional
(a) With court approval, a receiver may engage an attorney, accountant, appraiser, auctioneer, broker or other professional to assist the receiver in performing a duty or exercising a power of the receiver. The receiver shall disclose to the court: (1) The identity and qualifications of the professional; (2) The scope…
Conn. Gen. Stat. § 52-634
Use or transfer of receivership property not in ordinary course of business
(a) In this section, “good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing. (b) With court approval, a receiver may use receivership property other than in the ordinary course of business. (c) With court approval, a receiver may transfer receivership property other tha…
Conn. Gen. Stat. § 52-635
Executory contract
(a) In this section, “timeshare interest” means an interest having a duration of more than three years which grants its holder the right to use and occupy an accommodation, facility or recreational site, whether improved or not, for a specific period less than a full year during any given year. (b) Except as provided i…
Conn. Gen. Stat. § 52-636
Defenses and immunities of receiver
(a) A receiver is entitled to all defenses and immunities provided by the law of this state other than sections 52-619 to 52-646, inclusive, for an act or omission within the scope of the receiver's appointment. (b) A receiver may be sued personally for an act or omission in administering receivership property only wit…
Conn. Gen. Stat. § 52-637
Interim report of receiver
A receiver may file or, if ordered by the court, shall file an interim report that includes: (1) The activities of the receiver since appointment or a previous report; (2) Receipts and disbursements, including a payment made or proposed to be made to a professional engaged by the receiver; (3) Receipts and dispositions…
Conn. Gen. Stat. § 52-638
Notice of appointment; claim against receivership; distribution to creditors
(a) Except as provided in subsection (f) of this section, a receiver shall give notice of appointment of the receiver to creditors of the owner by: (1) Deposit for delivery through first class mail or other commercially reasonable delivery method to the last-known address of each creditor; and (2) Publication as direct…
Conn. Gen. Stat. § 52-639
Fees and expenses
(a) The court may award a receiver from receivership property the reasonable and necessary fees and expenses of performing the duties of the receiver and exercising the powers of the receiver. (b) The court may order one or more of the following to pay the reasonable and necessary fees and expenses of the receivership,…
Conn. Gen. Stat. § 52-640
Removal of receiver; replacement; termination of receivership
(a) The court may remove a receiver for cause. (b) The court shall replace a receiver that dies, resigns or is removed. (c) If the court finds that a receiver that resigns or is removed, or the representative of a receiver that is deceased, has accounted fully for and turned over to the successor receiver all receivers…
Conn. Gen. Stat. § 52-641
Final report of receiver; discharge
(a) On completion of a receiver's duties, the receiver shall file a final report including: (1) A description of the activities of the receiver in the conduct of the receivership; (2) A list of receivership property at the commencement of the receivership and any receivership property received during the receivership;…
Conn. Gen. Stat. § 52-642
Receivership in another state; ancillary proceeding
(a) The court may appoint a receiver appointed in another state, or that person's nominee, as an ancillary receiver with respect to property located in this state or subject to the jurisdiction of the court for which a receiver could be appointed under sections 52-619 to 52-646, inclusive, if: (1) The person or nominee…
Conn. Gen. Stat. § 52-643
Effect of enforcement by mortgagee
A request by a mortgagee for appointment of a receiver, the appointment of a receiver or application by a mortgagee of receivership property or proceeds to the secured obligation does not: (1) Make the mortgagee a mortgagee in possession of the real property; (2) Make the mortgagee an agent of the owner; (3) Constitute…
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