§ 28B-6. Powers and duties of receiver. - North Carolina Statutes

§28B‑6.  Powers and duties of receiver.

(a)        Under the directionof a judge, the receiver shall administer the property of the absentee inmilitary service as an equity receivership with the following powers:

(1)        To take custody andcontrol of all property of the absentee in military service wherever situated.

(2)        To collect all debtsdue to the absentee in military service  and pay all debts owed by him.

(3)        To bring and defendsuits.

(4)        To pay insurancepremiums.

(5)        With the approval ofthe judge in each instance, to continue  to operate and manage any businessenterprise, farm or farming operations, and to make necessary contracts withreference thereto.

(6)        With the approval ofthe judge in each instance, to renew notes and other obligations, obtain loanson life insurance policies, and pledge or mortgage property for loans necessaryin carrying on or liquidating the affairs of such absentee in military service.

(7)        With the approval ofthe judge in each instance, to institute proceedings to partition propertyowned by the absentee and another as joint tenants or tenants in common, withor without the right of survivorship; provided, in the case of property ownedby the absentee in military service and spouse as tenants by the entirety, suchproceedings may be instituted only if the spouse of the absentee in militaryservice consents in writing to the partitioning, and, in the  event ofpartitioning, one half of the property or proceeds shall belong to the spouseand one half shall belong to the receiver as property of the absentee inmilitary service.

(8)        With the approval ofthe judge in each instance, to sell, lease, invest, and reinvest any or allproperty, its income,  or its proceeds.

(9)        To pay over or applythe proceeds of mortgage and sales of such portion, or all of the property orthe income thereof, as may be necessary for the maintenance and support of thedependents of the absentee in military service. If the income from the propertyof the absentee in military service is not sufficient to pay all of his debtsand to provide for the maintenance and support of his dependents, the receivermay apply to the judge for an order to sell or mortgage so much of the real orpersonal property as may be necessary therefor. Such sale or mortgage shall bereported to the judge, and if approved and confirmed by the judge, the receivershall execute the required conveyances or mortgages of such property to thepurchaser or lender upon his complying with the terms of sale or mortgage.

(b)        The judge may, inhis discretion, by written order, modify, add to, or subtract from thestatutory powers granted in this section. (1973, c. 522, s. 6.)