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.
History: Laws 1995, ch. 81, § 4.
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