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2020 Maryland Statutes
Commercial Law
Title 24 - Maryland Commercial Receivership Act
Subtitle 4 - Effect of Receivership
Section 24-405 - Rights of Mortgagee
Universal Citation: MD. Commercial Law Code Ann. § 24-405 (2020)
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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