Delaware Code Title 12 Sec. 3910 – Receiver for property of minor; appointment, powers, accounting and …
(a) If a minor has real or personal property and no guardian, the Court of Chancery may appoint a receiver to take charge of such property during its pleasure and may make such regulations touching this matter, as are deemed proper. The Court may enforce any order made upon a receiver.
Terms Used In Delaware Code Title 12 Sec. 3910
- Court: means the Court of Chancery. See Delaware Code Title 12 Sec. 39A-101
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal property: All property that is not real property.
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States. See Delaware Code Title 12 Sec. 39A-101
(b) The receiver shall be required to account annually or oftener and shall deposit any balance, appearing in the receiver’s hands, to be invested or otherwise disposed of for the minor’s benefit.
(c) A receiver, appointed under this section, shall become bound, with sufficient surety, to the State in a joint and several obligation, to be approved by the Court, with condition, in substance, to account for all money, effects and estate which shall come to the receiver’s hands pursuant to the receiver’s appointment and to pay and deliver the same as the Court orders and to well and faithfully execute the trusts and duties of the office of receiver.
Code 1852, §§ ?1970, 1986, 1987; Code 1915, §§ ?3921, 3933; Code 1935, §§ ?4429, 4440; 12 Del. C. 1953, § ?3913; 57 Del. Laws, c. 402, § ?3; 69 Del. Laws, c. 109, § ?2; 70 Del Laws, c. 186,, § ?1;