Alqanoni

Civil Transactions Law

Art. 526
Status 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.

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