Short answer. Before entering upon your duties, you must be sworn to perform them faithfully and must file a bond, executed to whichever person and in whatever sum the court directs, promising to faithfully discharge your duties in the action or proceeding and obey the court's orders.
What the law says
Before entering upon his duties, the receiver shall be sworn to perform them faithfully, and shall file a bond, executed to such person and in such sum as the court may direct, to the effect that he will faithfully discharge his duties in the action or proceeding and obey the orders of the court.
Rule 59, Section 4 — Oath and bond of receiver. Read the full provision →
Two preconditions before duties can begin
Rule 59, Section 4 imposes two requirements on a receiver that must both be satisfied before entering upon his duties: taking an oath to perform those duties faithfully, and filing a bond. Neither is optional — a receiver cannot lawfully start acting in that capacity, including taking possession of property, collecting rents, or otherwise exercising authority over the res, until both the oath and the bond are in place. Skipping either step leaves any acts taken in the meantime open to challenge.
The oath commits the receiver to faithful performance
The oath itself is a formal, sworn commitment to faithful performance of the receivership duties. This is distinct from the substance of what those duties are — it is a procedural safeguard ensuring the receiver has formally accepted the responsibility and the accountability that comes with it before touching the property in controversy. It also marks, as a matter of record, the exact point at which the receiver's legal accountability for the property begins, which matters if a dispute later arises over acts taken shortly after appointment. Acts taken by a receiver before the oath is administered and the bond filed generally carry no legal effect, which means a receiver eager to move quickly should still resist the temptation to take possession of property or exercise any authority over it until both preconditions are formally satisfied and on record with the court.
The bond secures obedience to the court, not just honesty
The bond, executed to whatever person and in whatever sum the court directs, is conditioned specifically on the receiver faithfully discharging the receivership duties and obeying the orders of the court. This ties the receiver's financial accountability directly to compliance with the court's directives throughout the receivership, not merely to general good conduct. If the receiver mismanages the property or defies a court order, the bond is what an aggrieved party can ultimately proceed against for recovery. Because the sum and the payee are set by the court rather than fixed by rule, the amount can be tailored to the value of the property placed under receivership.
Related provisions
- Rule 59, Section 4 — Oath and bond of receiver
- Rule 59, Section 6 — General powers of receiver
- Rule 59, Section 5 — Service of copies of bonds; effect of disapproval of same