SECTION 5. Receiver; appointment; bond

The absentee or any person who claims an interest in any property of the absentee within the jurisdiction of the commonwealth may appear and show cause why the prayer of the petition should not be granted. The court may after hearing dismiss the petition, or it may appoint a receiver of such property. In making such appointment the court may give preference to anyone who would under the law of the commonwealth be entitled to administer the estate of such absentee if he were deceased or to any person who is found by the court to have been at the date of such disappearance or absconding an agent of such absentee and in possession of a substantial portion of such property. If a receiver is appointed the court shall find and record the date of the disappearance or absconding of the absentee; and such receiver shall give bond to the judge of probate and his successors in office in such sum and with such condition as the court orders, with a company named in section one hundred and five of chapter one hundred and seventy-five and approved by the court as surety thereon.