(a) Without necessity of a court order, the receiver may obtain unsecured credit and incur unsecured debt on behalf of the receivership, and the amounts shall be allowable as expenses of the receivership under section 576.51, subdivision 1, clause (2).
(b) Without necessity of a court order, the receiver may obtain secured financing on behalf of the receivership from any secured party under a financing facility existing at the time of the appointment.
(c) The court may authorize the receiver to obtain credit or incur indebtedness, and the court may authorize the receiver to mortgage, pledge, hypothecate, or otherwise encumber receivership property as security for repayment of any indebtedness.
2012 c 143 art 1 s 24
Structure Minnesota Statutes
Chapters 570 - 583 — Postjudgment Remedies; Alternative Dispute Resolution; Bonds
Section 576.22 — Applicability Of Chapter And Of Common Law.
Section 576.23 — Powers Of The Court.
Section 576.24 — Types Of Receiverships.
Section 576.25 — Appointment Of Receivers; Receivership Not A Trust.
Section 576.26 — Eligibility Of Receiver.
Section 576.28 — Immunity; Discovery From Receiver.
Section 576.29 — Powers And Duties Of Receivers; Generally.
Section 576.31 — Duties Of Respondent.
Section 576.32 — Employment And Compensation Of Professionals.
Section 576.33 — Schedules Of Property And Claims.
Section 576.35 — Notices, Motions, And Orders.
Section 576.36 — Records; Interim Reports.
Section 576.37 — Removal Of Receivers.
Section 576.38 — Termination Of Receiverships; Final Report.
Section 576.39 — Actions By Or Against Receiver Or Relating To Receivership Property.
Section 576.40 — Turnover Of Property.
Section 576.41 — Ancillary Receiverships.
Section 576.43 — Utility Service.
Section 576.44 — Receivership Financing.
Section 576.45 — Executory Contracts.
Section 576.46 — Sales Free And Clear Of Lien In General Receiverships.
Section 576.47 — Abandonment Of Property.
Section 576.48 — Liens Against After-acquired Property.
Section 576.49 — Claims Process.
Section 576.50 — Objection To And Allowance Of Claims.
Section 576.51 — Priority Of Claims.