Analysis of Ohio's Amended Receivership Law | Page 5

3 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