(a) The court may: (1) Require a receiver to post a bond or security with the court; (2) Authorize a receiver to act without posting a bond or other security; or (3) Authorize a receiver to act before the receiver posts any bond required by the court. (b) If a court requires a bond to be posted under subsection (a) of this section, the bond shall be: (1) Conditioned on the faithful discharge of the receiver's duties; (2) With one or more sureties approved by the court; (3) In an amount the court specifies; and (4) Effective as of the date of the receiver's appointment. (c) The court may also authorize a receiver to act without posting a bond or other security.
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