Receivership is an extraordinary remedy, the purpose of which is to preserve property during the time needed to prosecute a lawsuit, if a danger is present that such property will be dissipated or removed from the jurisdiction of the court if a receiver is not appointed.
A corporate officer is a high-level management official of a corporation or an unincorporated business, hired by the board of directors of a corporation or the owner of a business, such as a president, vice president, secretary, financial officer or chief executive officer (CEO).
Officers of a company organized as a corporation will be chosen by the company's board of directors. Officers are given authority by the board to run the different aspects of the corporation. One or more named officers are usually required by the laws of the state in which the company is incorporated.