Section 515.575

Title XXXV CIVIL PROCEDURE AND LIMITATIONS

Chapter 515

Effective - 28 Aug 2018, 2 histories   

  515.575.  Appointment of general receiver to operate as a stay, when — expiration of stay — no stay, when. — 1.  Except as otherwise ordered by the court, the entry of an order appointing a general receiver shall operate as a stay, applicable to all persons, of:

  (1)  The commencement or continuation, including the issuance, employment, or service of process, of a judicial, administrative, or other action or proceeding against the debtor that was or could have been commenced before the entry of the order of appointment, or to recover a claim against the debtor that arose before the entry of the order of appointment;

  (2)  The enforcement against the debtor or any estate property of a judgment obtained before the order of appointment;

  (3)  Any act to obtain possession of estate property from the receiver, or to interfere with, or exercise control over, estate property;

  (4)  Any act to create, perfect, or enforce any lien or claim against estate property except by exercise of a right of setoff, to the extent that the lien secures a claim against the debtor that arose before the entry of the order of appointment; or

  (5)  Any act to collect, assess, or recover a claim against the debtor that arose before the entry of the order of appointment.

  2.  The stay shall automatically expire as to the acts specified in subdivisions (1), (2), and (5) of subsection 1 of this section sixty days after the entry of the order of appointment unless before the expiration of the sixty-day period the debtor or receiver, for good cause shown, obtains an order of the court extending the stay, after notice and a hearing.  A person whose action or proceeding is stayed by motion to the court may seek relief from the stay for good cause shown.  Any judgment obtained against the debtor or estate property following the entry of the order of appointment is not a lien against estate property unless the receivership is terminated prior to a conveyance of the property against which the judgment would otherwise constitute a lien.

  3.  The entry of an order appointing a receiver does not operate as a stay of:

  (1)  The commencement or continuation of a criminal proceeding against the debtor;

  (2)  The commencement or continuation of an action or proceeding to establish paternity, or to establish or modify an order for alimony, maintenance, or support, or to collect alimony, maintenance, or support under any order of a court;

  (3)  Any act to perfect or to maintain or continue the perfection of an interest in estate property pursuant to any generally applicable Missouri law that permits perfection of an interest in property to be effective against an entity that acquires rights in such property before the date of perfection.  Such right to perfect an interest in estate property includes any act to perfect an interest in purchase money collateral pursuant to sections 400.9-301 to 400.9-339, perfection of a lien that may be placed against real property under the provisions of chapter 429, or the assertion of a right to continue in possession of any estate property that is in the possession of a person entitled to retain possession of such property pending payment for work performed with respect to such property.  If perfection of an interest would otherwise require seizure of the property involved or the commencement of an action, the perfection shall instead be accomplished by filing, and by serving upon the receiver, or receiver's counsel, if any, notice of the interest within the time fixed by law for seizure or commencement;

  (4)  The commencement or continuation of an action or proceeding by a governmental unit to enforce its police or regulatory power;

  (5)  The enforcement of a judgment, other than a money judgment, obtained in an action or proceeding by a governmental unit to enforce its police or regulatory power, or with respect to any licensure of the debtor;

  (6)  The exercise of a right of setoff, including but not limited to, any right of a commodity broker, forward contract merchant, stockbroker, financial institution, or securities clearing agency to set off a claim for a margin payment or settlement payment arising out of a commodity contract, forward contract, or securities contract against cash, securities, or other property held or due from the commodity broker, forward contract merchant, stockbroker, financial institution, or securities clearing agency to margin, guarantee, secure, or settle the commodity contract, forward contract, or securities contract, and any right of a swap participant to set off a claim for a payment due to the swap participant under or in connection with a swap agreement against any payment due from the swap participant under or in connection with the swap agreement or against cash, securities, or other property of the debtor held by or due from the swap participant to guarantee, secure, or settle the swap agreement;

  (7)  The establishment by a governmental unit of any tax liability and any appeal thereof; or

  (8)  Any action pending in a court other than that in which the receiver is appointed until transcription of the order appointing the receiver or extending the stay is made to the other court in which an action against the debtor is pending.

  4.  For the purposes of subdivision (8) of subsection 3 of this section, the receiver or any party in interest is authorized to cause to be transcripted any order appointing a receiver or extending the stay to any and all courts in which any action against a debtor is pending in this state.  A court that receives a transcript of an order of receivership or extension of stay may on its own order sua sponte transfer the matter before the court to the court issuing an order of receivership.

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(L. 2016 H.B. 1765 merged with S.B. 578, A.L. 2018 H.B. 1250)