§ Rule 66(c) Powers; termination; governing law
Rule 66(c). Powers; termination; governing law
1. The receiver may, subject to control of the court, commence and defend actions. The receiver shall take and keep possession of the property, receive rents, collect debts and perform such other duties respecting the property as authorized by the court.
2. The court may at any time suspend a receiver and may, upon notice, remove a receiver and appoint another.
3. A receivership may be terminated upon motion served with at least ten days notice upon all parties who have appeared in the proceedings. The court in the notice of hearing may require that a final account and report be filed and served, and may require the filing of written objections thereto. In the termination proceedings, the court shall take such evidence as is
appropriate and shall make such order as is just concerning its termination, including all necessary orders on the fees and costs of the receivership.
4. In all matters relating to the appointment of receivers, to their powers, duties and liabilities, and to the power of the court, the principles of equity shall govern when applicable.