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).
The corporate officers are the people who head departments, and these executives are responsible for running the business. Think of it this way: The board of directors operates like a airline pilot at the 30,000 feet level, overseeing everything, seeing the big picture, and changing course when necessary.