(a) If a minor has real or personal property and no guardian, the Court of Chancery may appoint a receiver to take charge of such property during its pleasure and may make such regulations touching this matter, as are deemed proper. The Court may enforce any order made upon a receiver.
(b) The receiver shall be required to account annually or oftener and shall deposit any balance, appearing in the receiver’s hands, to be invested or otherwise disposed of for the minor’s benefit.
(c) A receiver, appointed under this section, shall become bound, with sufficient surety, to the State in a joint and several obligation, to be approved by the Court, with condition, in substance, to account for all money, effects and estate which shall come to the receiver’s hands pursuant to the receiver’s appointment and to pay and deliver the same as the Court orders and to well and faithfully execute the trusts and duties of the office of receiver.
Code 1852, §§ 1970, 1986, 1987; Code 1915, §§ 3921, 3933; Code 1935, §§ 4429, 4440; 12 Del. C. 1953, § 3913; 57 Del. Laws, c. 402, § 3; 69 Del. Laws, c. 109, § 2; 70 Del Laws, c. 186, § 1.
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