(1) The court may remove a receiver for cause.
(2) The court shall replace a receiver that dies, resigns, or is removed.
(3) If the court finds that a receiver that resigns or is removed, or the representative of a receiver that is deceased, has accounted fully for and turned over to the successor receiver all receivership property and has filed a report of all receipts and disbursements during the service of the replaced receiver, the replaced receiver is discharged.
(4) The court may discharge a receiver and terminate the court’s administration of the receivership property if the court finds that appointment of the receiver was improvident or that the circumstances no longer warrant continuation of the receivership. If the court finds that the appointment was sought wrongfully or in bad faith, the court may assess against the person that sought the appointment:
(a) The fees and expenses of the receivership, including reasonable attorney fees and costs; and
(b) Actual damages caused by the appointment, including reasonable attorney fees and costs.
History.—s. 1, ch. 2020-106.
Structure Florida Statutes
Title XL - Real and Personal Property
Chapter 714 - Uniform Commercial Real Estate Receivership Act
714.03 - Notice and Opportunity for Hearing.
714.06 - Appointment of Receiver.
714.07 - Disqualification From Appointment as Receiver; Disclosure of Interest.
714.08 - Receiver’s Bond; Alternative Security.
714.09 - Status of Receiver as Lien Creditor.
714.10 - Security Agreement Covering After-Acquired Property.
714.11 - Collection and Turnover of Receivership Property.
714.12 - Powers and Duties of Receiver.
714.15 - Engagement and Compensation of Professional.
714.16 - Use or Transfer of Receivership Property Not in Ordinary Course of Business.
714.18 - Defenses and Immunities of Receiver.
714.19 - Interim Report of Receiver.
714.20 - Notice of Appointment; Claim Against Receivership; Distribution to Creditors.
714.22 - Removal of Receiver; Replacement; Termination of Receivership.
714.23 - Final Report of Receiver; Discharge.
714.24 - Receivership in Another State; Ancillary Proceeding.
714.25 - Effect of Enforcement by Mortgagee.
714.26 - Uniformity of Application and Construction.
714.27 - Relation to Electronic Signatures in Global and National Commerce Act.