44-2016. Duration of appointment of conservator; distributing assets; winding up affairs of violator
A. A permanent conservator shall administer the affairs until, in the opinion of the court, the appointment is no longer necessary to conserve, protect and preserve, reorganize or further administer the properties and affairs in his possession to protect the rights of all persons in interest. At such time the court shall make a finding to that effect and cause an order to be entered accordingly, and may direct delivery of all the properties and assets in the possession of the conservator to the persons legally entitled thereto.
B. If it appears to the court at any time that the affairs of the violator are incapable of reorganization or that reorganization is not advisable, the court shall make a finding to that effect and cause an order to be entered accordingly, and may provide that the conservator shall thereafter proceed as a receiver for the purpose of winding up the affairs of the violator.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.