(1) Upon distribution or disposition of all property of the estate or the completion of the receivers duties with respect to estate property, or for other good cause, the receiver shall move the court for an order discharging the receiver. (2) The receiver shall attach to the motion for discharge a final report and accounting setting forth: (a) A list of estate property received during the receivership; (b) A list of disbursements, including payments to professionals engaged by the receiver; (c) A list of dispositions of estate property; (d) A list of distributions made or proposed to be made from the estate for creditor claims; (e) If not filed separately, a request for approval of the payment of fees and expenses of the receiver; and (f) Any other information required by the court. (3) If the court approves the final report and accounting, the court shall discharge the receiver. The court may issue an order exonerating the receivers bond or alternative security. (4) The receivers discharge: (a) Releases the receiver from any further duties and responsibilities under the Oregon Receivership Code; and (b) Releases the receiver and any persons acting on behalf of the receiver from all further liability in connection with the administration of estate property or the receivership. (5) Upon motion of any interested person, or upon the courts own motion, the court may discharge the receiver and terminate the courts administration of the property over which the receiver was appointed. (6) Upon termination of the receivership under any circumstances, if the court determines that the appointment of the receiver was wrongfully procured or procured in bad faith, the court may assess against the person who procured the receivers appointment all of the receivers fees and other costs of the receivership, and any other sanctions the court deems appropriate. _______________ CHAPTERS 38 AND 39 [Reserved for expansion]
‹ Prev All Oregon sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.