A court may award to a receiver from receivership property or proceeds the reasonable and necessary fees and expenses of performing the duties and exercising the powers of the receiver. A court may order one or more of the following persons to pay the reasonable and necessary fees and expenses of the receivership, including reasonable attorney’s fees and costs: A person that requested the appointment of the receiver, if the receivership does not produce sufficient funds to pay the fees and expenses; or A person whose conduct would have justified the appointment of the receiver under § 24–201(a)(1) of this title.

A receiver is entitled to all defenses and immunities under applicable State law for an act or omission within the scope of the receiver’s appointment. A person shall receive approval from the court that appointed the receiver before taking the following actions: An action against the receiver personally based on an act or omission in administering receivership property; and An action by a person other than the receiver against a professional person that has provided services to the receiver based on an act or omission in performing the services.

A court may remove a receiver for cause on its own motion or the motion of an interested party. A court shall replace a receiver that dies, resigns, or is removed. A receiver replaced under subsection (b) of this section is discharged if a court finds that a receiver that resigns or is removed, or the representative of a deceased receiver, has: Accounted fully for and turned over to the successor receiver all receivership property; and Filed a report of all receipts and disbursements during the service of the replaced receiver. On the transfer of title to any receivership property, the receivership shall terminate automatically as to receivership property subject to the requirements of § 24–602 of this title. A court may discharge a receiver and terminate the court’s administration of the receivership property if the court finds that: Appointment of the receiver was improvident; or The circumstances no longer warrant continuation of the receivership.