Michigan Laws 554.1033 – Final report of receiver; contents; discharge
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Terms Used In Michigan Laws 554.1033
- Court: means the circuit court. See Michigan Laws 554.1012
- Property: means all of a person's right, title, and interest, both legal and equitable, in real property, personal property, and fixtures tangible and intangible, wherever located and however acquired. See Michigan Laws 554.1012
- Receiver: means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this act or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. See Michigan Laws 554.1012
- Receivership: means a proceeding in which a receiver is appointed. See Michigan Laws 554.1012
- Receivership property: means the property of an owner that is described in the order appointing a receiver or a subsequent order. See Michigan Laws 554.1012
(1) On completion of a receiver‘s duties, the receiver shall file a final report including all of the following:
(a) A description of the activities of the receiver in the conduct of the receivership.
(b) A list of receivership property at the commencement of the receivership and any receivership property received during the receivership.
(c) A list of disbursements, including payments to professionals engaged by the receiver.
(d) A list of dispositions of receivership property.
(e) A list of distributions made or proposed to be made from the receivership for creditor claims.
(f) If not filed separately, a request for approval of the payment of fees and expenses of the receiver.
(g) Any other information required by the court.
(2) If the court approves a final report filed under subsection (1) and the receiver distributes all receivership property, the receiver is discharged.