198.132. Accounting by receiver, when--contents--liability for deficiency--priority of deficiency judgment.

MISSOURI STATUTES AND CODES

198.132. Accounting by receiver, when--contents--liability for deficiency--priority of deficiency judgment.

Accounting by receiver, when--contents--liability fordeficiency--priority of deficiency judgment.

198.132. 1. Within thirty days after termination or suchother time as the court may set, the receiver shall give thecourt a complete accounting of all property of which the receiverhas taken possession, of all funds collected under section198.108 and of the expenses of the receivership.

2. If the operating funds collected by the receiver undersection 198.112 exceed the reasonable expenses of thereceivership, the court shall order the payment of the surplus tothe operator. If the operating funds are insufficient to coverreasonable expenses of the receivership, the operator shall beliable for the deficiency. The operator may apply to the courtto determine the reasonableness of any expense of thereceivership. The operator shall not be responsible for expensesin excess of what the court finds to be reasonable.

3. If a deficiency exists under subsection 2 of thissection, the receiver may apply to the court for such adetermination. If after notice to all interested parties and ahearing the court finds that in fact a deficiency does exist,then the court shall enter judgment in favor of the receiver andagainst the appropriate party or parties as set forth insubsection 2 of this section for the amount of such deficiency.Any judgment obtained under this subsection shall be treated asany other judgment and may be enforced according to law.

4. Any judgment for a deficiency obtained in accordance withthis section by the receiver or any portion thereof may beassigned wholly or in part upon approval of the court.

5. The judgment shall have priority over any other judgmentor lien or other interest which originates subsequent to thefiling of a petition for receivership under the provisions ofsections 198.099 to 198.136 except for a construction ormechanic's lien arising out of work performed with the expressconsent of the receiver.