N.C. Gen. Stat. § 1-507.44
Receivership financing
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) Unsecured Financing. - Without necessity of a court order, the receiver may obtain unsecured credit and incur unsecured debt on behalf of the receivership.
(1) Unsecured Financing. — Without necessity of a court order, the receiver may obtain unsecured credit and incur unsecured debt on behalf of the receivership.
(2) Secured Financing. - On motion by the receiver and after notice and a hearing, the court may authorize the receiver to obtain secured credit or incur secured indebtedness, and the court may authorize the receiver to mortgage, pledge, hypothecate, or otherwise encumber receivership property as security for the repayment of such indebtedness.
(2) Secured Financing. — On motion by the receiver and after notice and a hearing, the court may authorize the receiver to obtain secured credit or incur secured indebtedness, and the court may authorize the receiver to mortgage, pledge, hypothecate, or otherwise encumber receivership property as security for the repayment of such indebtedness.
(3) Expenses of Receivership. - Any financing incurred by the receiver pursuant to this section shall be allowable as expenses of the receivership under G.S. 1-507.51(a)(2).
(3) Expenses of Receivership. — Any financing incurred by the receiver pursuant to this section shall be allowable as expenses of the receivership under G.S. 1-507.51(a)(2).
History
(2020-75, s. 1.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.