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This entry was published on 2014-09-22
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SECTION 1204
Oath and security
Not-for-Profit Corporation (NPC) CHAPTER 35, ARTICLE 12
§ 1204. Oath and security.

A receiver, before entering upon his or her duties, shall: (a) Take
and subscribe an oath that he or she will faithfully, honestly and
impartially discharge the trust committed to him or her, and the oath
shall be filed with the clerk of the court in which the action or
special proceeding is pending.

(b) File with the clerk of such court a bond to the people, with at
least two sufficient sureties or a bond executed by any fidelity or
surety company authorized by the laws of this state to transact
business, in a penalty fixed by the court appointing him or her,
conditioned for the faithful discharge of his or her duties as receiver.
The court may at any time direct a receiver to give a new bond with new
sureties and with like condition.