44-1036

44-1036. Powers of court with respect to
assignee; removal of assignee; appointment of assignee to fill
vacancy

A. The relationship of the court having jurisdiction of the insolvent estate and
the assignee for the benefit of creditors shall be governed by the provisions which
govern the relationship of a superior court and a receiver. The court shall have the
same authority and jurisdiction as it has over a receiver appointed by the court.

B. If an assignee becomes unsuitable or refuses or neglects to perform the trust,
or mismanages the property, the superior court may, upon application of the assignor or a
creditor, upon reasonable notice by publication or otherwise to all parties interested,
as the court directs, remove the assignee.

C. In case of removal of the assignee or vacancy in the office by death or
otherwise the court shall appoint another in his place who shall have the same powers and
be subject to the same liabilities as the original assignee.