Title 24. Maryland Commercial Receivership Act — Subtitle 4. Effect of Receivership

Commence or continue a judicial, administrative, or other action or proceeding against the owner that was or could have been commenced before entry of the order;

Collect, assess, or recover a claim against the owner that arose before entry of the order;

Obtain possession of, exercise control over, or enforce a judgment against the receivership property obtained before entry of the order; or

Create, perfect, or enforce a lien or other claim against the receivership property that arose before entry of the order.

Except as provided in paragraph (2) of this subsection, a court may order a stay of an act against or relating to an owner if the stay is necessary to:

A court may not order a stay under paragraph (1) of this subsection, with respect to a governmental unit commencing or continuing an action or proceeding to enforce its police or regulatory power, that includes enforcing a nonmonetary judgment.

An act to foreclose or otherwise enforce a mortgage by the person seeking appointment of the receiver;

An act to perfect, maintain, or continue the perfection of an interest in receivership property;

Commencement or continuation of a criminal proceeding;

Commencement or continuation of an action or a proceeding by a governmental unit to enforce its police or regulatory power;

Enforcement of a judgment other than a money judgment in an action or a proceeding by a governmental unit to enforce its police or regulatory power;

Establishment by a governmental unit of a tax liability against the owner or receivership property or an appeal of the liability;

The exercise of the right of setoff or recoupment;

The commencement of a bankruptcy case under Title 11 of the United States Code; or

Any other matter provided under 11 U.S.C. § 362(b) to the extent not inconsistent with any provision of this section.

The property is no longer receivership property; or

The court enters:

Award the receiver actual damages caused by the violation, including reasonable fees and costs; and

Sanction the violation as civil contempt.

Except as provided in paragraph (2) of this subsection, and unless otherwise ordered by a court, a person that has possession, custody, or control of receivership property shall turn the receivership property over to the receiver on demand of the receiver.

If a creditor has possession, custody, or control of receivership property and the validity, perfection, or priority of the creditor’s lien on the receivership property depends on the creditor’s possession, custody, or control, subject to § 24–401(c)(2) of this subtitle, the creditor may retain possession, custody, or control until the court enters an order providing adequate protection of the creditor’s lien.

Assist and cooperate with the receiver in administering the receivership and discharging the receiver’s duties;

Preserve and turn over to the receiver all receivership property in the owner’s possession, custody, or control, including all depository and investment accounts;

Identify and turn over all records and other information relating to receivership property, including all passwords, keys, alarm codes, authorizations, or other information needed to obtain or maintain access to or control of receivership property;

Make available and turn over to the receiver the records and information in the owner’s possession, custody, or control, including all financial records, accounting records, bank statements, leases, and contracts;

After being issued a subpoena, submit to examination by the receiver that is under oath regarding the acts, conduct, property, liabilities, and financial condition of the owner or any matter relating to receivership property or the receivership;

Refrain from entering the receivership property at any time without the prior express written consent of the receiver;

Refrain from interfering with, obstructing, or preventing in any way the receiver’s actions regarding the receivership property; and

Perform any duty imposed by court order, this title, or a law of the State other than this title.

Any person acting in concert with the owner and the owner’s agents; and

Each officer, director, manager, member, partner, trustee, affiliate, subsidiary, or other person exercising or having the power to exercise control over the affairs of the owner.

Award the receiver:

Sanction the failure as civil contempt.