Massachusetts Superior Court Rule 51:
Every receiver, within thirty days after his appointment, shall file a detailed inventory of the property of which he has possession or the right to possession, with the estimated values thereof, together with a list of the encumbrances thereon; and also a list of the creditors of the receivership and of the party whose property is in the hands of the receiver, so far as known to him.
Every receiver shall file, not later than the fifteenth day of February of each year, a detailed account under oath of his receivership to and including the last day of the preceding year, substantially in the form required for an account by a conservator in the probate courts, together with a report of the condition of the receivership. He shall also file such further accounts and reports as the court may order.
When an attorney at law has been appointed a receiver, no attorney shall be employed by the receiver or receivers except upon order of court, which shall be made only upon the petition of a receiver, stating the name of the attorney whom he desires to employ and showing the necessity of such employment.
No order discharging a receiver from further responsibility will be entered until he has settled his final account.
Upon application for appointment of a receiver, the party seeking the receiver shall pay into Court the sum of $500.00, or such other amount as the Court may allow, for the use of the receiver when appointed to guarantee his or her expenses, disbursements and compensation. No process on the application for appointment of a receiver shall issue before payment of said sum. The Clerk shall pay said sum to the receiver when appointed and the receiver shall account for the disposition thereof in his or her required accountings. If the application for appointment of a receiver is denied, the Clerk shall repay to the plaintiff, or the plaintiff's attorney, the sum so deposited.
(Applicable to civil actions)
As amended, effective September 3, 1991; June 24, 2009, effective July 1, 2009.