Home Table of Contents

§ 24-405. Effect of receivership on mortgage

West's Annotated Code of MarylandCommercial LawEffective: October 1, 2019

West's Annotated Code of Maryland
Commercial Law
Title 24. Maryland Commercial Receivership Act (Refs & Annos)
Subtitle 4. Effect of Receivership (Refs & Annos)
Effective: October 1, 2019
MD Code, Commercial Law, § 24-405
§ 24-405. Effect of receivership on mortgage
Currentness
A request by a mortgagee for the appointment of a receiver, the appointment of a receiver, or the application by a mortgagee of receivership property or proceeds to the secured obligation does not:
(1) Make the mortgagee a mortgagee in possession of the real property;
(2) Make the mortgagee an agent of the owner;
(3) Constitute an election of remedies that precludes a later action to enforce the secured obligation;
(4) Make the secured obligation unenforceable; or
(5) Limit any right available to the mortgagee with respect to the secured obligation.

Credits

Added by Acts 2019, c. 284, § 1, eff. Oct. 1, 2019.
MD Code, Commercial Law, § 24-405, MD COML § 24-405
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document