Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Panel backs Uniform Commercial Real Estate Receivership Act with study amendment
Summary
Senate Bill 2,122, the Uniform Commercial Real Estate Receivership Act, received a do-pass recommendation with an amendment to study possible expansion to general commercial receiverships. The bill would create a uniform statutory framework for appointment, powers, reporting, and termination of receivers in commercial real estate matters.
The House Industry, Business and Labor Committee recommended a do-pass on Senate Bill 2,122, the Uniform Commercial Real Estate Receivership Act, and adopted an amendment directing a study of whether broader changes to North Dakota’s receivership law are warranted.
Peril Grossman, representing the North Dakota Commission on Uniform Laws, introduced the uniform-act proposal and walked the committee through the act’s chapters and key provisions. The bill would create a new chapter (proposed chapter 30‑2‑10.1), define receivership property, spell out appointment standards, require receiver bonding, delineate receiver powers (including turnover, collection, use and transfer of receivership property, and…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
