Section 407.105

Title XXVI TRADE AND COMMERCE

Chapter 407

Effective - 01 May 1986, see footnote   

  407.105.  Receiver, powers and duties of. — When a receiver is appointed by the court pursuant to section 407.100, he may sue for, collect, receive and take into his possession all the goods and chattels, rights and credits, moneys and effects, lands and tenements, books, records, documents, papers, choses in action, bills, notes and property of every description, derived by means of any method, act, use, practice or solicitation, or any combination thereof, declared to be unlawful or prohibited by this chapter, including property with which such property has been mingled if it cannot be identified in kind because of such commingling, and to sell, convey, and assign the same and hold and dispose of the proceeds thereof under the direction of the court.  Any person who has suffered damages as a result of the use or employment of any unlawful methods, acts, uses, practices or solicitations, or any combination thereof, and submits proof to the satisfaction of the court that he has in fact been damaged, may participate with general creditors in the distribution of the assets to the extent he has sustained out-of-pocket losses.  In the case of a partnership or business entity, the receiver shall settle the estate and distribute the assets under the direction of the court.  The court shall have jurisdiction of all questions arising in such proceedings and may make such orders and judgments therein as may be required.

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(L. 1973 H.B. 55, A.L. 1985 H.B. 96, et al., A.L. 1986 S.B. 685)

Effective 5-01-86