Section 554.1031 Fees and Expenses.

MI Comp L § 554.1031 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Sec. 21.

(1) The court may award a receiver from receivership property the reasonable and necessary fees and expenses of performing the duties of the receiver and exercising the powers of the receiver.

(2) The court may order 1 or more of the following to pay the reasonable and necessary fees and expenses of the receivership, including reasonable attorney fees and costs:

(a) A person that requested the appointment of the receiver, if the receivership does not produce sufficient funds to pay the fees and expenses.

(b) A person whose conduct justified or would have justified the appointment of the receiver under section 6(1)(a).

History: 2018, Act 16, Eff. May 7, 2018