OH SB388

Expands receiver powers to include establishing utility accounts, entering into contracts (including sales, leases, and construction), and transferring real or personal property free of liens with proper notice to interested parties.

Requires court approval for receivers to sell real property at public or private sale, with the court confirming the sale within 30 days if conducted in conformity with its order; allows property owners to redeem property before confirmation by depositing sale price plus costs and interest.

Establishes that funds expended by receivers on court-authorized contracts, including construction work, are treated as priority administrative expenses or court costs, with the court able to require additional deposits from the party seeking receivership or parties benefiting from the work.

Prioritizes nomination of qualified receivers by the party seeking receivership while maintaining that no nomination is binding on the court; requires all parties and recorded lienholders to consent before appointing a party with an interest in the action as receiver.

Clarifies that liens and other interests in transferred property transfer in the same order of priority to proceeds from the sale and adds definitions for "public utility" and related terms.