ULC

Acts

Commercial Real Estate Receivership Act

Description

Receivership is an equitable remedy allowing a court to oversee the orderly management and disposition of property subject to a lawsuit. Although the remedy is not new, there is no standard set of receivership rules and the courts of different states have applied widely varying standards. This Uniform Commercial Real Estate Receivership Act applies to receiverships involving commercial real estate, and provides a standard set of rules for courts to apply. It will result in greater predictability for litigants, lenders, and other parties doing business with a company subject to receivership.

Staff Contact

Benjamin Orzeske borzeske@uniformlaws.org

 

Enactment Status Map

Map of USA Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont U.S. Virgin Islands Virginia Washington West Virginia Wisconsin Wyoming

Legislative Tracking

2017 Introductions & Enactments
StateBillSponsorStatus
Maryland HB1180/SB895 Kramer/FeldmanIntroduced
Michigan HB 4471 IdenIntroduced
Nevada AB 235 Monroe-MorenoEnacted
Oklahoma SB362/HB1927 Holt/KannadyIntroduced
Oregon SB 899  Enacted
Utah SB 208 HillyardEnacted

 

Drafting History

Origin: Completed by the Uniform Law Commission in 2015.
Committee/Resources: Commercial Real Estate Receivership Act