Receivers

V.S.A. tit. 12, ch. 163, subch. 5

in effect

12 V.S.A. § 4481 Receivers of goods attached

4481. Receivers of goods attached When the stock in a manufacturing establishment consisting of articles in the process of manufacture, with or without the materials necessary for the manufacture of the same, hereinafter referred to as “stock,” is taken by virtue of a writ of attachment in a civil action, and cannot be sold without a sacrifice, and cannot be kept without loss and damage, on the motion of a party interested to the presiding judge of the Superior Court in which the action is pending or by complaint to any other Superior judge, the judge may appoint in his or her discretion a competent person to receive the stock so attached, complete the manufacture thereof, dispose of the same on the terms most advantageous to the persons interested, and apply the proceeds under the direction of the judge: (1) to the payment of necessary expenses incurred by the receiver in the manufacture and sale of the stock; (2) to the payment of such sum as the judge deems reasonable to the receiver for his or her services; (3) to the payment of the costs of the proceedings; (4) the residue shall be applied as though the money were received by the officer, on the sale of the stock, by consent or otherwise, upon the original attachment. Amended 1971, No. 185 (Adj. Sess.), § 121, eff. March 29, 1972; 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974.

12 V.S.A. § 4482 Notice of motion or complaint

4482. Notice of motion or complaint Notice shall be given to the parties to the attachment or their attorneys to appear and show cause why the prayer of the motion or complaint should not be granted before the receiver is appointed. Amended 1971, No. 185 (Adj. Sess.), § 122, eff. March 29, 1972.

12 V.S.A. § 4483 Receiver’s bond

4483. Receiver’s bond Before an order issues for him or her to take possession of such stock, the receiver shall execute and deliver to the clerk of the court issuing the order a bond with sufficient sureties, in such sum as the court directs, conditioned on the faithful execution of his or her trust and a true accounting, under the direction of the court, for the property received under such order.

12 V.S.A. § 4484 Order for possession

4484. Order for possession Upon receipt of such bond, under the direction of the court, the clerk of the court shall deliver to the receiver an order to take possession of such stock, proceed in the manufacture and sale of the same as provided by sections 4481-4483 of this title, and require possessors of such stock to deliver same to the receiver. Such order shall be a sufficient warrant to the attaching officer or other possessor of such stock to deliver it to the receiver.

12 V.S.A. § 4485 Borrowing money

4485. Borrowing money The presiding judge of the Superior Court in which the action is pending or other Superior judge may authorize the receivers or managers of property in the course of administration in that court, when the interest of the parties or property requires it, to borrow money for the proper and convenient discharge of their duties and on such terms, conditions, limitations, and security as shall to the court seem fit. This section shall not prevent the receivers or managers from borrowing money for temporary purposes. Amended 1971, No. 185 (Adj. Sess.), § 123, eff. March 29, 1972; 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/12/163Fetched: 10/21/2026