Civil Transactions Law
Art. 526Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
1. If receivership is gratuitous, a receiver may withdraw therefrom at any time,
provided that he notifies the concerned parties of such withdrawal and
continues to perform his tasks until he becomes certain that the withdrawal
would not cause harm to the concerned parties; otherwise, he shall be liable
for compensation.
2. If receivership is for a fee and the receiver withdraws therefrom, the receiver
shall be liable for compensation for any harm sustained due to his withdrawal
if such withdrawal was made at an inappropriate time or without an
acceptable justification, even if it was made prior to commencing a task.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded