A Receiver Surety Bond is designed for court-appointed individuals charged with securing the assets of companies and entities whose assets have been seized, or are in receivership. This is often the case when a lawsuit is pending a final verdict. They are required in some states. Receiverships are not always consensual, and the receiver obtains a bond in order to guarantee their faithful performance of the duties and obligations of the receivership. If a plaintiff obtains a judgment against the receiver for a failure in the performance of her/his duty as a receiver, the plaintiff may be entitled to recover from the surety on the bond.
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