Michie's Legal Resources



		(a) Annual and final report; filing.- A receiver or assignee shall file an annual report under oath within 60 days after the end of the reporting period. The reporting period shall be (1) the year ending on the anniversary of the date upon which the court appointed the receiver or assumed jurisdiction over the estate; (2) upon notice to the trust clerk, any other one-year period chosen by the receiver or assignee, provided that the interval between the last report (or appointment or assumption of jurisdiction) and the report submitted shall not exceed one year; or (3) any other period ordered by the court. Before any interim or final distribution of the estate may be made, the receiver or assignee shall file a report for the period from the closing date of the last annual report until the proposed date on which the estate will be partially or fully distributed.

    (b) Form of report.- A report shall be in substantially the following form:

[CAPTION]

REPORT OF RECEIVER OR ASSIGNEE

____________________________                  _______________________________

Name of Debtor                  Name of Receiver or Assignee

Reporting Period ______________, ______ to ______________, ______.



		(month) (day) (year) (month) (day) (year)



		1. Summary of property held in fiduciary capacity at beginning of reporting period:

                  Nature and Description                        Estimated
                       of Property                            Market Value

_________________________________________________________ __________________
_________________________________________________________ __________________
_________________________________________________________ __________________
_________________________________________________________ __________________
_________________________________________________________ __________________



		2. Changes during the period covered by this report:



		A. A. Collections and Receipts, including interest and dividends received:

                                  Amount
Date    Description   Received

____ ________________ ________
____ ________________ ________
____ ________________ ________
____ ________________ ________
                Total Receipts
                      $_______



		B. Expenditures and distributions:

                                  Amount
Date    Description     Paid

____ ________________ ________
____ ________________ ________
____ ________________ ________
____ ________________ ________
                Total Payments
                      $_______



		C. Property sold or otherwise transferred:

                                Court Order                  Consideration
Date Description    Reference    Transferee       Received

_____ _____________ _____________ ____________ ________________
_____ _____________ _____________ ____________ ________________
_____ _____________ _____________ ____________ ________________
_____ _____________ _____________ ____________ ________________



		D. Property acquired:

                                Court Order                  Consideration
Date Description    Reference    Transferor         Paid

_____ _____________ _____________ ____________ ________________
_____ _____________ _____________ ____________ ________________
_____ _____________ _____________ ____________ ________________
_____ _____________ _____________ ____________ ________________



		3. Summary of property held in fiduciary capacity at end of reporting period:

                                                    Estimated Market
Nature and Description of Property       Value

_______________________________________ ____________________________________
_______________________________________ ___________________________________
_______________________________________ ____________________________________
_______________________________________ ____________________________________



		4. Proposed distribution (distribution reports only):



		Previous distributions were:

Date Authorized                            Amount of
      by Court                             Distribution

___________________ ________________________________________________________
___________________ ________________________________________________________
___________________ ________________________________________________________
___________________ ________________________________________________________



    Total distributions to date:              ________________________________

    The amount available for [ ] partial [ ] final distribution is $_____ .

    If the proposed distribution is partial, the amount proposed to be
retained in estate is $____________.

    (Include in final reports only) All property of the estate has been
accounted for and the undersigned knows of no debts incurred during the
administration of the estate other than those which have been paid or which
are reflected in this Report.

    (Include in all reports) I solemnly affirm under the penalties of
perjury that the contents of this Report are true to the best of my
knowledge, information, and belief.

Date: __________________               _______________________________________

                  Receiver/Assignee

                  ____________________________________________________________

                  Address

                  ___________________________________________________________



		(c) Weekly report if conducting a business.- For each calendar week during which the receiver or assignee conducts the business of the debtor, the receiver or assignee shall also file a report listing the receipts and disbursements in reasonable detail. The report shall be filed not later than the third day after the end of the weekly reporting period.



		(d) Further accountability.- Nothing in this Rule shall be construed to abridge the power of the court to require a receiver or assignee to submit reports covering periods greater or lesser, or at times earlier or later, than those prescribed in this Rule or to require the submission of more detailed information than that which is prescribed in this Rule.



		(e) Failure to file reports; penalties.-



		(1) Order.- If a receiver or assignee fails to file a timely annual report, the trust clerk shall inform the court in writing, and the court shall issue an order to the receiver or assignee to show cause within 15 days why the receiver or assignee should not be removed. The order shall be served on the receiver or assignee and a copy sent to the surety on the bond of the receiver or assignee in accordance with Rule 13-701 (b).



		(2) Sanctions.- If the receiver or assignee does not comply with the order by filing an answer and all overdue reports, the court may remove the receiver or assignee pursuant to Rule 13-701 and may take any action permitted or required by Rule 13-703.



		(f) Examination by trust clerk.-



		(1) Examination of reports.- The trust clerk shall examine all reports submitted pursuant to this Rule, except those referred to an auditor pursuant to Rule 13-502. The trust clerk shall determine whether all of the required information has been submitted and whether the amount of and surety on the bond of the receiver or assignee are sufficient to protect the estate.



		(2) Examination of property not required.- Unless the court orders otherwise, the trust clerk need not examine the property of the estate.



		(3) Report and recommendation.- The trust clerk shall (A) report any irregularities in the report to the court, (B) bring to the court's attention any other matter that the trust clerk considers appropriate, and (C) make any appropriate recommendation.



		[Amended May 9, 2000, effective July 1, 2000.]