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Current as of January 01, 2024 | Updated by FindLaw Staff
A. Upon application to a district court, the district court shall appoint a receiver in an action by a mortgagee or secured party or in any other action based upon a contract or other written agreement, where such mortgage, security agreement, contract or other written agreement provides for the appointment of a receiver.
B. Upon application to a district court, the district court may appoint a receiver:
(1) when specific statutory provisions authorize the appointment of a receiver;
(2) in an action between or among persons owning or claiming an interest in the receivership estate;
(3) in actions where receivers have customarily been appointed by courts of law or equity;
(4) when a receiver has been appointed for a business entity or other person by a court of competent jurisdiction in another state, and that receiver seeks to collect, take possession or manage assets of the receivership estate located in New Mexico; or
(5) in any other case where, in the discretion of the district court, just cause exists and irreparable harm may result from failure to appoint a receiver.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 44. Miscellaneous Civil Law Matters § 44-8-4. Grounds for appointing a receiver - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-44-miscellaneous-civil-law-matters/nm-st-sect-44-8-4/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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