{"data":{"id":"us-md/md.-code-commercial-law-24-201","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 24–201","heading":"","body":"(a) A court may appoint a receiver:\n(1) Before judgment, to protect a party that demonstrates an apparent right to property that is the subject of the action, if the property or the revenue–producing potential of the property:\n(i) Is being subjected to or is in danger of waste, loss, dissipation, or impairment; or\n(ii) Has been or is about to be the subject of a fraudulent conveyance voidable under Title 15, Subtitle 2 of this article;\n(2) After judgment, to:\n(i) Carry the judgment into effect; or\n(ii) Preserve nonexempt property:\n1. Pending appeal; or\n2. When an execution has been returned unsatisfied and the owner refuses to apply the property in satisfaction of the judgment;\n(3) In an action seeking dissolution of a corporation under § 3–411 or § 3–415 of the Corporations and Associations Article; or\n(4) To a receivership under § 24–103(a)(3) of this title.\n(b) (1) In connection with or anticipation of a foreclosure or any other enforcement of a mortgage, a mortgagee is entitled to the appointment of a receiver.\n(2) On request, a court shall appoint a receiver for the mortgaged property if:\n(i) There is a default under the mortgage; and\n(ii) 1. Appointment of a receiver is necessary to protect the property from waste, loss, transfer, dissipation, or impairment;\n2. The mortgagor agreed in a signed record, including the mortgage or an assignment of leases and rents, to the appointment of a receiver on default;\n3. The owner agreed, after default and in a signed record, to the appointment of a receiver;\n4. The property and any other collateral held by the mortgagee are not sufficient to satisfy the secured obligation;\n5. The owner fails to turn over to the mortgagee proceeds or rent the mortgagee was entitled to collect; or\n6. The holder of a subordinate lien obtains the appointment of a receiver for the property.\n(c) (1) A court may condition appointment of a receiver without prior notice under § 24–501(b)(1) of this title, or without a prior hearing under § 24–501(b)(2) of this title, on the giving of security by the person seeking the appointment for:\n(i) The payment of damages;\n(ii) Reasonable attorney’s fees; or\n(iii) If the court concludes that the appointment was not justified, costs incurred by any person.\n(2) If the court later concludes that the appointment was justified, the court shall release the security.","path":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=24-201","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"263daa4be86a187c169284ad8b8b8b1fa3bf7d125c907e513c392003d4e4a7ad","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-24-103","next":"us-md/md.-code-commercial-law-24-202"},"notice":"GroundRules: Original legal text. Not legal advice."}