Maryland Code, COMMERCIAL LAW 24-202
Terms Used In Maryland Code, COMMERCIAL LAW 24-202
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) A receiver appointed in another state; or
(2) A nominee of the receiver in the other state.
(b) An ancillary receiver under subsection (a) of this section shall:
(1) Be eligible to serve as a receiver under § 24-203 of this subtitle; and
(2) Further the person‘s possession, custody, control, or disposition of property subject to the receivership in the other state.
(c) A court may issue an order that gives effect to an order entered in another state appointing or directing a receiver.
(d) Unless the court orders otherwise, an ancillary receiver appointed under subsection (a) of this section has the rights, powers, and duties of a receiver appointed under this title.