1. The state or condition of being in the control of a receiver. [Cases: Corporations 552, 621(.5); Receivers
1. C.J.S. Corporations § 756; Receivers§§ 1–3.]
2. The position or function of being a receiver appointed by a court or under a statute.
3. A proceeding in which a court appoints a receiver.
ancillary receivership. A receivership in which a further administrative proceeding is appointed in another state to help the principal receivership.
dry receivership. A receivership in which there is no equity available to pay general creditors. [Cases: Receivers 151, 163. C.J.S. Receivers §§ 299–301, 390–401.]
