1-507.44. Receivership financing.
(a) Unsecured Financing. - Without necessity of a court order, the receiver may obtain unsecured credit and incur unsecured debt on behalf of the receivership.
(b) Secured Financing. - On motion by the receiver and after notice and a hearing, the court may authorize the receiver to obtain secured credit or incur secured indebtedness, and the court may authorize the receiver to mortgage, pledge, hypothecate, or otherwise encumber receivership property as security for the repayment of such indebtedness.
(c) Expenses of Receivership. - Any financing incurred by the receiver pursuant to this section shall be allowable as expenses of the receivership under G.S. 1-507.51(a)(2). (2020-75, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 38A - North Carolina Commercial Receivership Act.
§ 1-507.20 - Short title; definitions.
§ 1-507.21 - Applicability of Article and of common law.
§ 1-507.22 - Powers of the court.
§ 1-507.23 - Types of receiverships.
§ 1-507.24 - Appointment of receivers; receivership not a trust.
§ 1-507.25 - Eligibility of receiver.
§ 1-507.27 - Defenses and immunities; discovery.
§ 1-507.28 - Powers and duties of receivers.
§ 1-507.29 - Receiver as lien creditor; real estate recording; subsequent sales of real estate.
§ 1-507.30 - Duties of debtor.
§ 1-507.31 - Employment and compensation of professionals.
§ 1-507.32 - Schedules of property and claims.
§ 1-507.34 - Notices; motions; orders.
§ 1-507.35 - Records; interim reports; status hearings.
§ 1-507.36 - Removal of receivers.
§ 1-507.37 - Termination of receiverships; final report.
§ 1-507.38 - Actions by or against receiver; actions relating to receivership property.
§ 1-507.39 - Procedure for determining individual business debtor's exempt property.
§ 1-507.40 - Turnover of receivership property.
§ 1-507.41 - Ancillary receiverships.
§ 1-507.44 - Receivership financing.
§ 1-507.45 - Executory contracts.
§ 1-507.46 - Use or transfer of receivership property not in ordinary course.
§ 1-507.47 - Abandonment of property.
§ 1-507.48 - Liens against after-acquired property.
§ 1-507.50 - Objection to and allowance of claims.
§ 1-507.51 - Priority of claims.