State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_1 > GS_1-505

§1‑505.  Sale of property in hands of receiver.

In a case pending in theSuperior Court Division in which a receiver has been appointed, the residentsuperior court judge or a superior court judge regularly holding the courts ofthe district shall have power and authority to order a sale of any property,real or personal, in the hands of a receiver duly and regularly appointed. In acase pending in the District Court Division in which a receiver has beenappointed, the chief district judge or a district judge designated by the chiefdistrict judge to hear motions and enter interlocutory orders shall have thepower and authority to order a sale of any property, real or personal, in thehands of a duly appointed receiver. Sales of property authorized by this sectionshall be upon such terms as appear to be to the best interests of the creditorsaffected by the receivership. The procedure for such sales shall be as providedin Article 29A of Chapter 1 of the General Statutes. (1931,c. 123, s. 1; 1949, c. 719, s. 2; 1955, c. 399, s. 1; 1971, c. 268, s. 32.)