MO SB216

Repeals existing receivership statutes (sections 515.240, 515.250, 515.260) and creates 34 new sections (515.500-515.665) establishing comprehensive procedures for commercial receiverships in Missouri

Defines two types of receivers: general receivers (controlling all or substantially all of a debtor's property with liquidation power) and limited receivers (controlling only specific property), with courts required to specify the type in appointment orders

Establishes automatic stay provisions upon appointment of a general receiver, halting most legal actions, judgments, and collection efforts against the debtor for 60 days, with exceptions for criminal proceedings, family support matters, and governmental regulatory actions

Sets creditor payment priorities: secured creditors first, then administrative expenses, wages/salaries up to $10,950 per employee, consumer deposits up to $2,425, family support debts, government tax claims, and finally unsecured claims

Grants receivers judicial immunity for acts performed in good faith, requires bonding before assuming duties, mandates monthly financial reporting for general receivers, and establishes procedures for claims administration, property sales free of liens, and receiver discharge