With court approval, the receiver may abandon any receivership property that is burdensome or is not of material value to the receivership. Property that is abandoned is no longer receivership property and not subject to the provisions of this Article.
N.C. Gen. Stat. § 1-507.47
Abandonment of property
Known as the North Carolina Commercial Receivership Act
The act spans §§ 1-507.20 to 1-507.54 (35 sections).
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.