Text of the provision
Sec. 8. Termination of receivership; compensation of receiver. — Whenever the court, motu proprio or on motion of either party, shall determine that the necessity for a receiver no longer exists, it shall, after due notice to all interested parties and hearing, settle the accounts of the receiver, direct the delivery of the funds and other property in his possession to the person adjudged to be entitled to receive them, and order the discharge of the receiver from further duty as such. The court shall allow the receiver such reasonable compensation as the circumstances of the case warrant, to be taxed as costs against the defeated party, or apportioned, as justice requires.
2019 Rules of Civil Procedure (A.M. No. 19-10-20-SC), Rule 59, Section 8. Reproduced verbatim and verified word-for-word against the Supreme Court's official text and the ChanRobles rendering.
About this section
This is Section 8 of Rule 59 (Receivership) of the 2019 Rules of Civil Procedure, the rules promulgated by the Supreme Court in A.M. No. 19-10-20-SC and in force since May 1, 2020. The text above is reproduced verbatim from the current rules.
Related provisions
- Section 7 — Liability for refusal or neglect to deliver property to receiver.
- Section 9 — Judgment to include recovery against sureties.
Cases citing this section
- Authorities on this section will be added here as each is verified against primary sources.