Receivership in another state; ancillary proceeding

(a) The court may appoint a foreign receiver as an ancillary receiver with respect to property located in this State or subject to the jurisdiction of the court for which a receiver could be appointed under this Act, if: (1) the person would be eligible to serve as receiver under Section 7 of this Act; and (2) the appointment furthers the person's possession, custody, control, or disposition of property subject to the receivership in the other state. (3) the appointment is authorized by the court that appointed the foreign receiver. (b) The court may issue an order that gives effect to an order entered in another state appointing or directing a receiver. (c) Unless the court orders otherwise, an ancillary receiver appointed under subsection (a) has the rights, powers, duties and obligations of a receiver appointed under this Act. (Source: P.A. 104-34, eff. 1-1-26 .)