(a) Following the suspension of a dealer's license under this chapter, the State Plant Board may file a verified petition in a court of competent jurisdiction requesting the appointment of a receiver to take custody of the assets of the dealer and provide for the disposition of the assets under the supervision of the court.
(b) A petition for the appointment of a receiver shall be filed in the county in which the dealer is located.
(c) Upon receiving a petition for the appointment of a receiver under this section, a court may issue any temporary orders necessary to preserve or protect the assets in receivership, the value of the assets in receivership, and the rights of the dealer's creditors until a plan of disposition is approved.
(d) The board may be appointed as receiver in an action brought under this section.
Section: Previous 2-24-102 2-24-103 2-24-104 2-24-105 2-24-106 2-24-107 2-24-108 2-24-109 2-24-110 2-24-111 2-24-112 2-24-113 2-24-114 NextLast modified: November 15, 2016