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NC General Statutes

N.C. Gen. Stat. § 1-507.23 (2026)

Types of receiverships

✓ current as of July 2026
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A receivership may be either a limited receivership or a general receivership. Any receivership which is based upon the foreclosure or enforcement of a security agreement, judgment lien, mechanic's lien, or other lien pursuant to which the debtor or any holder of a lien would have a statutory right of redemption, shall be a limited receivership. If the order appointing the receiver does not specify whether the receivership is a limited receivership or a general receivership, the receivership shall be a limited receivership unless and until the court by later order designates the receivership as a general receivership, notwithstanding that pursuant to G.S. 1-507.24(i), a receiver may otherwise have control over all the property of the debtor. At any time, the court may order a general receivership to be converted to a limited receivership and a limited receivership to be converted to a general receivership. (2020-75, s. 1.)

 

Notes of Decisions
Cited in 1 case (1 in the last 5 years), 2025–2025 · leading case: Southland Nat'l Ins. Corp. v. Lindberg (N.C. Ct. App. 2025).
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Southland Nat'l Ins. Corp. v. Lindberg (N.C. Ct. App. 2025). · cites it 6× “order a general receivership to be converted to a limited receivership and a limited receivership to be converted to a general receivership[,]” N.C.G.S. §§ 1-507.23 (2023). While the receiver is entrusted with a considerable amount of responsibility and authority, the receiver…”
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