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Receivership New Legislation

Kilpatrick

The New Illinois Receivership Act

Kilpatrick on

Effective January 1, 2026, the new Illinois Receivership Act will come effective to provide litigators in Illinois with expanded tools for creditors and distressed businesses to protect and manage assets during a business...more

Harris Beach Murtha PLLC

Connecticut’s New Receivership Law to Bring Greater Certainty and Transparency to Administration of Distressed Real Estate

During the 2021 Legislative Session, Connecticut adopted a new receivership law based on the Uniform Commercial Real Estate Receivership Act (“UCRERA”) which became effective on July 1, 2023. The UCRERA was drafted by the...more

Polsinelli

Florida Legal Update: Laws of Interest Effective July 1, 2020

Polsinelli on

Business Legal Updates - Collegiate Student Athletes Can Now Receive Compensation - With the passing of Section 1006.74, F.S., effective July 1, 2020, intercollegiate athletes at a “postsecondary educational...more

Rosenberg Martin Greenberg LLP

Maryland Governor Signs into Law New Statute Assisting Commercial Lenders Seeking to Obtain Receiverships over Borrowers and/or...

There is good news for commercial lenders in Maryland seeking the appointment of a receiver over a borrower or solely over real estate collateral.  On  April 30, 2019, Governor Hogan signed into law HB 1065, which creates an...more

Snell & Wilmer

Oregon and Nevada Adopt the Uniform Commercial Real Estate Receivership Act

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Nevada and Oregon join Utah in adopting the Uniform Commercial Real Estate Receivership Act (the “Act”) promulgated by the Uniform Law Commission...more

Ballard Spahr LLP

New Nevada Laws Governing Commercial Foreclosure and Receivership

Ballard Spahr LLP on

With the financial crisis still in mind and the potential “wall of maturities” perpetually on the horizon, the Nevada Legislature has enacted two bills addressing commercial real property foreclosure and commercial real...more

Snell & Wilmer

Utah Becomes First State to Enact the Uniform Commercial Real Estate Receivership Act

Snell & Wilmer on

On March 25, Utah became the first state to enact the Uniform Commercial Real Estate Receivership Act (“UCRERA”) which was drafted by the National Conference of Commissioners on Uniform State Laws (the “Conference”) and...more

Stinson LLP

Missouri Commercial Receivership Act Creates a New Statutory Scheme Which Presents a More Robust Remedy

Stinson LLP on

The Missouri Commercial Receivership Act (MCRA), passed by the Missouri legislature and just signed into law by Governor Nixon, becomes effective Aug. 28, 2016. It expands, clarifies and fleshes out the existing minimal...more

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