Cook County receiver bonds.
Court-set penalty, underwritten.

A receiver appointed by the Circuit Court of Cook County takes control of property or a business under the court’s authority. The appointment order fixes the penalty and the court approves the security — 735 ILCS 5/2-415 is the statute that frames bonding in an Illinois receivership. These bonds are underwritten, not flat-rated. Send us the order and a surety specialist returns a quote, usually within one business day.

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For a receiver appointed by the Circuit Court of Cook County in chancery or law

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The appointment order fixes the penalty and the court approves the security (735 ILCS 5/2-415)

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Underwritten to the receivership — financials or collateral may apply

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How it works

Built so the receivership can proceed.

A receiver generally cannot act until the bond the court ordered is filed and approved, so the file moves on the court’s clock. Here is the whole process:

STEP 1 · TODAY

Send us the appointment order

Apply online with the plaintiff, defendant, case number, and date of appointment as receiver, and attach the order setting the penalty and the scope of the receivership. We size from the figure and assets the court identified.

WITHIN 1 BUSINESS DAY

A surety specialist underwrites it

A specialist reviews the receivership, the receiver’s background, and indemnity. Larger estates may call for financials or collateral — we raise that before quoting rather than after.

ON APPROVAL

Execute & file for approval

Once you bind, we issue the executed bond so it can be filed with and approved by the Circuit Court of Cook County, letting the receiver take possession and act.

About this bond

What it is and who needs it.

What a receiver bond covers

When the Circuit Court of Cook County appoints a receiver to take charge of property, a business, or disputed assets, that person holds significant control over value belonging to other people.

A receiver bond guarantees that the receiver will faithfully perform the duties of the office and account for the property under their control. If the receiver mismanages or misappropriates the assets, the affected parties can recover against the bond.

Because the exposure is the receivership estate itself, the court fixes the penalty and approves the security, and these bonds are underwritten rather than flat-rated. Larger receiverships may require financials or collateral. We size and quote once we see the order.

Illinois Statute735 ILCS 5/2-415 governs receivers in Illinois. Subsection (a) provides that before a receiver is appointed the party making the application shall give bond to the adverse party in such penalty as the court may order, with security to be approved by the court, conditioned to pay all damages including reasonable attorney’s fees sustained by reason of the appointment and acts of the receiver if the appointment is revoked or set aside; bond need not be required when, for good cause shown and upon notice and full hearing, the court is of the opinion a receiver ought to be appointed without one. Subsection (b) lets the court, in lieu of appointing a receiver, permit the party in possession to retain possession on bond with such penalty, security, and conditions as the court may order and approve.

You need this bond if you’re

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A receiver appointed in Cook County taking charge of property or a business under a court order

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A master or referee appointed to administer, operate, or sell assets

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A receivership candidate who needs the bond on file before the appointment takes effect

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Counsel arranging the court-ordered security so the receivership can proceed

One application, reviewed by a surety specialist.

These are the actual underwriting fields — the case, the receivership, the receiver, and the financial picture behind it. Submit once and a specialist reviews everything together, then returns a quote, typically within one business day. Free until your bond is issued.

Start the application →

FAQ

Common questions.

What is a Cook County receiver bond?It is the fiduciary bond a receiver appointed by the Circuit Court of Cook County posts before taking control of property or a business. It guarantees the receiver will faithfully perform the duties of the office and account for the assets, protecting the parties to the receivership.

Who sets the bond amount?The appointing court does. Under 735 ILCS 5/2-415 a receivership bond runs in such penalty as the court may order, with security to be approved by the court, so the Cook County appointment order is what sizes it. There is no flat rate — we underwrite the premium and any collateral to that penalty.

How much does it cost?These bonds are underwritten rather than flat-rated. The premium depends on the size of the receivership, the receiver’s background and financials, and any collateral. Send us the order and a specialist returns a quote, usually within one business day.

Can a receiver be appointed without a bond?Sometimes. 735 ILCS 5/2-415(a) provides that bond need not be required when, for good cause shown and upon notice and full hearing, the court is of the opinion a receiver ought to be appointed without one. When the court does order a bond, that order tells us exactly what to underwrite.

Will I need financials or collateral?On larger receiverships, possibly. A specialist reviews the receiver’s profile and the assets under the order and discusses any financials or collateral before quoting, so the terms are clear up front.

Related bonds

Other Illinois bonds.

Appointed as a receiver in Cook County?

Send us the appointment order and a surety specialist sizes, underwrites, and quotes the bond — typically within one business day. Free until your bond is issued.

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