2020 Maryland Statutes
Commercial Law
Title 24 - Maryland Commercial Receivership Act
Subtitle 4 - Effect of Receivership
Section 24-405 - Rights of Mortgagee

    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.

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