State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_1 > GS_1-502_1

§1‑502.1.  Applicant for receiver to furnish bond to adverse party.

Before a judge may appoint areceiver, the judge shall require the party making application for theappointment to furnish a bond payable to the adverse party in a form and amountapproved by the judge. The bond shall secure payment by the applicant of alldamages, including reasonable attorney fees, sustained by the adverse party bythe appointment and acts of the receiver if the appointment is vacated orotherwise set aside. The judge may require that the amount of bond be increasedfor this purpose any time after the appointment of a receiver. (1983(Reg. Sess., 1984), c. 994, s. 1.)