(a) Before any receiver shall be appointed the party making the application shall give bond to the adverse party in such penalty as the court may order and with security to be approved by the court conditioned to pay all damages including reasonable attorney's fees sustained by reason of the appointment and acts of such receiver, in case the appointment of such receiver is revoked or set aside. Bond need not be required, when for good cause shown, and upon notice and full hearing, the court is of the opinion that a receiver ought to be appointed without such bond.
2-415.Appointment of and actions against receivers.
Article II. Civil Practice · Part 4. Parties · Not amended since adoption on record · Last verified July 20, 2026
In one sentenceSection 2-415 requires a bond before a court appoints a receiver, lets the court instead leave a party in possession on a like bond, and lets a receiver be sued over acts taken in running the property's business, subject to the appointing court's control.
Full Text of 735 ILCS 5/2-415
(b) On an application for the appointment of a receiver, the court may, in lieu of appointing a receiver, permit the party in possession to retain such possession upon giving bond with such penalty and with such security and upon such condition as the court may order and approve; and the court may remove a receiver and restore the property to the possession of the party from whom it was taken upon the giving of a like bond.
(c) Every receiver of any property appointed by any court of this State may be sued in respect of any act or transaction of the receiver in carrying on the business connected with the property, without the previous leave of the court in which the receiver was appointed; but the action shall be subject to the jurisdiction of the court in which the receiver was appointed, so far as the same is necessary to the ends of justice.
Plain-English Summary
Before a court appoints a receiver, the applicant must post a bond, in a penalty amount the court sets and with security the court approves, conditioned on paying any damages — including reasonable attorney's fees — caused by the appointment or the receiver's acts, if the appointment is later revoked or set aside. The court can waive that bond requirement, but only for good cause, and only after notice and a full hearing.
Instead of appointing a receiver, the court can let the party already in possession keep that possession, on a bond with whatever penalty, security, and conditions the court approves. The court can later remove a receiver and restore the property to whoever it was taken from, again on a similar bond.
A receiver appointed by an Illinois court can be sued over acts or transactions in running the business connected with the receivership property, without first getting leave from the appointing court. That said, the suit remains subject to the appointing court's jurisdiction to whatever extent the ends of justice require.
Frequently Asked Questions
What must happen before a court appoints a receiver?
The party applying for the appointment must give bond to the adverse party, in a penalty the court sets, with security the court approves, conditioned on paying damages and reasonable attorney's fees caused by the appointment or the receiver's acts if the appointment is later revoked or set aside.
Can the bond requirement for a receiver be waived?
Yes, but only for good cause shown, and only after notice and a full hearing, when the court is of the opinion a receiver ought to be appointed without a bond.
Can a court avoid appointing a receiver altogether?
Yes. The court may instead let the party already in possession retain it, on a bond with a penalty, security, and conditions the court approves.
Can a receiver later be removed?
Yes. The court may remove a receiver and restore the property to the party it was taken from, upon that party giving a similar bond.
Can a receiver be sued without first asking the appointing court for permission?
Yes, for acts or transactions in carrying on the business connected with the receivership property. The suit remains subject to the appointing court's jurisdiction so far as necessary to the ends of justice.
Amendment History
(Source: P.A. 83-707.)
Source & verification. Section text and amendment history are
reproduced verbatim from the Illinois Compiled Statutes, published by the
Illinois Compiled Statutes, Illinois General Assembly / Legislative Reference Bureau. Last verified July 20, 2026.
· Official source
Also known as: appointment of a receiver illinoisreceiver bond requirement illinoissuing a court-appointed receiverremoving a receiver illinois court