7.60.290 - Termination of receivership. - Washington Statutes

Termination of receivership.

(1) Upon distribution or disposition of all property of the estate, or the completion of the receiver's duties with respect to estate property, the receiver shall move the court to be discharged upon notice and a hearing.

     (2) The receiver's final report and accounting setting forth all receipts and disbursements of the estate shall be annexed to the petition for discharge and filed with the court.

     (3) Upon approval of the final report, the court shall discharge the receiver.

     (4) The receiver's discharge releases the receiver from any further duties and responsibilities as receiver under this chapter.

     (5) Upon motion of any party in interest, or upon the court's own motion, the court has the power to discharge the receiver and terminate the court's administration of the property over which the receiver was appointed. If the court determines that the appointment of the receiver was wrongfully procured or procured in bad faith, the court may assess against the person who procured the receiver's appointment (a) all of the receiver's fees and other costs of the receivership and (b) any other sanctions the court determines to be appropriate.

[2004 c 165 § 31.]

Notes: Purpose -- Captions not law -- 2004 c 165: See notes following RCW 7.60.005.