Section 44-8-4 - Grounds for appointing a receiver. - New Mexico Statutes

44-8-4. Grounds for appointing a receiver.

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.