§ 1-504. Receiver's bond. - North Carolina Statutes

§1‑504.  Receiver's bond.

A receiver appointed in anaction or special proceeding must, before entering upon his duties, execute andfile with the clerk of the court in which the action is pending an undertakingpayable to the adverse party with at least two sufficient sureties in a penaltyfixed by the judge making the appointment, conditioned for the faithfuldischarge of his duties as receiver. And the judge having jurisdiction thereofmay at any time remove the receiver, or direct him to give a new undertaking,with new sureties, and on the like condition. This section does not apply to acase where special provision is made by law for the security to be given by areceiver, or for increasing the same, or for removing a receiver. (Code,s. 383; Rev., s. 849; C.S., s. 862.)