[ri-see-ver-ship] /rɪˈsi vərˌʃɪp/

noun, Law.
the condition of being in the hands of a .
the position or function of being a receiver in charge of administering the property of others.
noun (law)
the office or function of a receiver
the condition of being administered by a receiver

late 15c., “office of a receiver” (of public revenues), from receiver + -ship. As “condition of being under control of a receiver,” 1884.

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