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Searching 2023-2024 Session

The Vermont Statutes Online

 

Title 12 : Court Procedure

Chapter 163 : CHANCERY PROCEEDINGS

Subchapter 005 : RECEIVERS

(Cite as: 12 V.S.A. § 4481)
  • § 4481. Receivers of goods attached

    When the stock in a manufacturing establishment consisting of articles in the process of manufacture, with or without the materials necessary for the manufacture of the same, hereinafter referred to as “stock,” is taken by virtue of a writ of attachment in a civil action, and cannot be sold without a sacrifice, and cannot be kept without loss and damage, on the motion of a party interested to the presiding judge of the Superior Court in which the action is pending or by complaint to any other Superior judge, the judge may appoint in his or her discretion a competent person to receive the stock so attached, complete the manufacture thereof, dispose of the same on the terms most advantageous to the persons interested, and apply the proceeds under the direction of the judge:

    (1) to the payment of necessary expenses incurred by the receiver in the manufacture and sale of the stock;

    (2) to the payment of such sum as the judge deems reasonable to the receiver for his or her services;

    (3) to the payment of the costs of the proceedings;

    (4) the residue shall be applied as though the money were received by the officer, on the sale of the stock, by consent or otherwise, upon the original attachment. (Amended 1971, No. 185 (Adj. Sess.), § 121, eff. March 29, 1972; 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974.)