A receiver may be appointed by a judge of the circuit court, either in or out of court:
(1) Before judgment, on the application of either party, when he establishes an apparent right to property which is the subject of the action and which is in the possession of an adverse party and the property, or its rents and profits, are in danger of being lost or materially injured or impaired, except in cases when judgment upon failure to answer may be had without application to the court;
(2) After judgment, to carry the judgment into effect;
(3) After judgment, to dispose of the property according to the judgment or to preserve it during the pendency of an appeal or when an execution has been returned unsatisfied and the judgment debtor refuses to apply his property in satisfaction of the judgment;
(4) When a corporation has been dissolved, is insolvent or in imminent danger of insolvency or has forfeited its corporate rights, and, in like cases, of the property within this State of foreign corporations; and
(5) In such other cases as are provided by law or may be in accordance with the existing practice, except as otherwise provided in this Code.
HISTORY: 1962 Code Section 10-2301; 1952 Code Section 10-2301; 1942 Code Section 584; 1932 Code Section 584; Civ. P. '22 Section 524; Civ. P. '12 Section 303; Civ. P. '02 Section 265; 1870 (14) 479 Section 267; 1897 (22) 510.
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