§ 57C-6-02.2. Receivership. - North Carolina Statutes

§57C‑6‑02.2.  Receivership.

(a)        A court in ajudicial proceeding brought to dissolve a limited liability company may appointone or more receivers to wind up or to manage the business and affairs of thelimited liability company. Before appointing a receiver, the court shall hold ahearing after notifying all parties to the proceeding and any interestedpersons designated by the court. The court appointing a receiver has exclusivejurisdiction over the limited liability company and all of its property, whereverlocated.

(b)        The court mayappoint an individual or other person as a receiver. The court may require thereceiver to post bond, with or without sureties, in an amount the courtdirects.

(c)        The court shalldescribe the powers and duties of the receiver in its appointing order, whichmay be amended from time to time. The powers may include the authority to:

(1)        Dispose of all orany part of the assets of the limited liability company wherever located, at apublic or private sale, if authorized by the court;

(2)        Sue and defend inthe receiver's own name as receiver of the limited liability company in allcourts of this State; and

(3)        Exercise all of thepowers of the limited liability company, through or in place of its managers,to the extent necessary to manage the affairs of the limited liability companyin the best interests of its members and creditors.

(d)        From time to timeduring the receivership, the court may order compensation paid and expensedisbursements or reimbursements made to the receiver and the receiver's counselfrom the assets of the limited liability company or proceeds from the sale ofthe assets. (1999‑189, s. 5.4; 2000‑140, s. 101(t).)