§ 10-21-12-1

(a) A temporary non-liquidating receiver shall: (1) Assist the owner in developing an operating plan in consultation; (2) Present the operating plan to the court for approval; and (3) Monitor the owner’s business operations and the owner’s compliance with the plan. (b) An operating plan must: (1) Except to the extent that a particular creditor has agreed to a different treatment of its claim: (i) Provide for the payment of any secured obligation of the owner on the terms of the secured obligation; (ii) Provide for the payment of the owner’s debts accruing or arising after the appointment of the receiver when such debts become due; and (iii) Provide for the payment of each of the owner’s other debts either: (A) In periodic installments over a term of not more than three (3) years after the court approves the plan; or (B) As to a particular debt, in such other manner as the owner and the creditor may agree in a record; and (2) Include such other measures as necessary to justify the termination of the receivership. (c) The court may modify the operating plan.

nner as the owner and the creditor may agree in a record; and (2) Include such other measures as necessary to justify the termination of the receivership. (c) The court may modify the operating plan. (d) A temporary non-liquidating receiver may not exercise any of the powers under §§ 10-21-12(a)(1) through (4) unless: (1) The court directs otherwise for cause; or (2) The owner defaults on an approved operating plan after such notice and opportunity to cure the default as the court specifies. History of Section.P.L. 2022, ch. 107, § 1, effective June 20, 2022; P.L. 2022, ch. 108, § 1, effective June 20, 2022.