Analysis of Ohio's Amended Receivership Law | Page 5
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clarifications, employ gender neutral terms, and add to the current
statutory term – “corporation” – the following other entity types:
limited liability companies, partnerships, limited partnerships and
“other” entities (collectively, “Entity”):
• Vendor actions to vacate a fraudulent purchase of property;
creditor actions to subject property or a fund to the creditor’s
claim; partners’ or other joint owners’ action concerning
property or a fund where the property or fund is in danger
of being lost, removed or materially injured. (R.C. §
2735.01(A)(1))
• After judgment, to carry the judgment into effect. (R.C. §
2735.01(A)(4))
• After judgment, to dispose of or preserve property pending
appeal or after an unsatisfied execution. (R.C. § 2735.01(A)
(5))
• When a corporation or other Entity has been dissolved,
is insolvent, is in imminent danger of insolvency, or
has forfeited its corporate or other Entity rights. (R.C. §
2735.01(A)(6))
• In all other cases in which Receivers have been appointed by
the “usages of equity.” (R.C. § 2735.01(A)(7))
The statutory grounds for appointment of a Receiver in mortgage
foreclosure actions have been clarified and sub