Supreme Court Rules - Rule 68 - Rules of Civil Procedure - Rules Governing Civil Procedure in the Circuit Courts - Masters and Receivers: Receivers in Circuit Courts

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Supreme Court Rules

		Section/Rule:	68.02
Subject:	Rule 68 - Rules of Civil Procedure - Rules Governing Civil Procedure in the Circuit Courts - Masters and Receivers	Publication / Adopted Date:	February 1, 1972
Topic:	Receivers in Circuit Courts	Revised / Effective Date:	January 1, 1994

68.02. Receivers in Circuit Courts

(a) Appointment of Receiver. Whenever in a pending legal or equitable proceeding it appears to the court that a receiver is necessary to keep, preserve and protect any business, business interest or property, including money or other thing deposited in court or the subject of a tender, the court, or any judge thereof in vacation, may appoint a receiver whose duty it shall be to keep, preserve and protect, to the extent and in the manner that the court may direct, that which the receiver is ordered to take into the receiver's charge.

(b) Bond of Receiver. Such receiver shall give bond, and have the same powers and be subject to all the provisions, as far as they may be applicable, enjoined upon a receiver appointed by virtue of the law providing for suits by attachment.

(c) Compensation of Receiver. The court shall allow the receiver reasonable compensation for his services to be charged upon such of the parties, or paid out of any fund or subject matter of the action which is in the custody or control of the court, as the court may direct.

(Adopted Feb. 1, 1972, eff. Sept. 1, 1972. Amended Sept. 28, 1993, eff. Jan. 1, 1994.)

Committee Note – 1974

The source of paragraph (a) is prior Rule 68.24.
Paragraph (b) is the same as prior Rule 68.25.
The sources of paragraph (C) are Rule 53 (a) of the Federal Rules of Civil Procedure and prior Rule 68.26.
Compare: Rule 53 of the Federal Rules of Civil Procedure.