§ 9-8-10.Receiver’s bond

This section gives the appointing judge a tool for protecting the property a receiver controls: a bond. The judge decides, case by case, whether to require one, conditioned on the receiver faithfully carrying out the trust reposed in him. If something goes wrong — mismanagement, misappropriation, a breach of duty — the bond stands as security that the people harmed can reach.

When the judge does require a bond, the statute puts two decisions in the judge’s hands: setting the bond amount and determining whether the security behind it is sufficient. Separately, and regardless of whether the judge required a bond at all, the judge also regulates what the receiver gets paid for the job — a duty the statute states on its own, not tied to the bond requirement.

Because the bond requirement is discretionary rather than automatic, not every receivership will involve one — but the judge’s duty to regulate the receiver’s compensation applies whether or not a bond was ever required.