NC H919

Enacts the North Carolina Receivership Act (Article 38A, Chapter 1) establishing comprehensive procedures for court-appointed receivers to manage debtor property and liquidate assets for creditor distribution.

Repeals previous assignment for benefit of creditors statutes (Articles 1-2, Chapter 23 and Article 38, Chapter 1) and replaces them with the new receivership framework.

Requires actions seeking appointment of general receivers for non-individual debtors with assets of $1,000,000 or more to be designated as mandatory complex business cases.

Defines receiver powers and duties including property management, claims processes, priority distributions to creditors, automatic stays on creditor actions, and procedures for receiver compensation and removal.

Effective January 1, 2020, applying to receiverships commenced on or after that date.