BASIS FOR APPOINTMENT OF RECEIVER IN CALIIFORNIA

The broadest, but by no means only, California statute addressing the appointment of receivers is Code of Civil Procedures Section 564. A few additional statutory California bases for appointment are:

• Corporations Code Section 15028 - authorizing appointment of a receiver in enforcing a charging order against a general partner’s interest in a partnership

• Code of Civil Procedure Section 565 - to take charge of a dissolved corporate estate to effect a liquidation and distribution of corporate assets

• Corporations Code Section 1803 - Upon suit for involuntary liquidation of a corporation by shareholders or directors, to preserve assets until determination of the merits of the suit

• Code of Civil Procedure Section 699.070 - To preserve perishable property pending determination of ownership

• Code of Civil Procedure Section 564(b)(6) - To preserve property pending completion of an unlawful detainer action

• Corporations Code Section 180(a)(c) - The State Attorney General may seek appointment of a receiver to wind up a corporation operating in violation of the law

• Corporations Code Section 29540(a) - The California Commissioner of Corporations may seek appointment of a receiver over a corporation operating in violation of the Corporations Code

• Business and Professions Code Sections 10881 and 10081.5 - The California Commissioner of Real Estate may seek appointment of a receiver over a licensee operating in violation of real estate law