§ RULE 66 RECEIVERS

Codes > Arkansas Rules of Civil Procedure > VIII Counsel; > RULE 66

RULE 66. RECEIVERS

    (a) Appointment. Circuit courts may appoint receivers for any lawful purpose when such appointment shall be deemed necessary and proper. The receiver shall give bond, with sufficient security, in an amount to be approved by the court, for the benefit of all persons in interest. The receiver shall likewise take an oath to faithfully perform the duties reposed in him by the court.

    (b) Reports. The receiver shall make a report of his proceedings and actions every six (6) months or at such other times as directed by the court. All moneys or property collected by the receiver shall be accounted for and deposited into court or otherwise be subject to the orders of the court.

    (c) Employment of Others. Subject to the approval of the court, the receiver shall have power to employ an attorney, an
accountant or such other persons as may be necessary to conduct the business or affairs entrusted to the receiver. The wages or fees paid by the receiver shall be paid as an expense from the assets collected by him.

    (d) Removal. Receivers may be removed at any time by the court for good cause. Substitute receivers shall be subject to the same requirements as the previous receiver.

    (e) Dismissal of Action. No action wherein a receiver has been appointed shall be dismissed except by order of the court.