(a) The court may award a receiver from receivership property the reasonable and necessary fees and expenses of performing the duties of the receiver and exercising the powers of the receiver.
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Terms Used In Tennessee Code 29-40-121

  • Court: means a chancery court in this state. See Tennessee Code 29-40-102
  • Person: means an individual. See Tennessee Code 29-40-102
  • Property: includes proceeds, products, offspring, rents, or profits of or from the property. See Tennessee Code 29-40-102
  • 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 chapter or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. See Tennessee Code 29-40-102
  • Receivership: means a proceeding in which a receiver is appointed. See Tennessee Code 29-40-102
(b) The court may order one (1) or more of the following to pay the reasonable and necessary fees and expenses of the receivership, including reasonable attorney’s fees and costs:

(1) A person that requested the appointment of the receiver, if the receivership does not produce sufficient funds to pay the fees and expenses; or
(2) A person whose conduct justified or would have justified the appointment of the receiver under § 29-40-106(a)(1).
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