2020 New Mexico Statutes
Chapter 44 - Miscellaneous Civil Law Matters
Article 8 - Receivership Act
Section 44-8-3 - Definitions.

As used in the Receivership Act [44-8-1 NMSA 1978]:

A. "applicant" means an interested person who seeks the appointment of a receiver;

B. "business entity" means a sole proprietorship, a profit or nonprofit corporation, a general or limited partnership, business trust, joint venture or other enterprise composed of one or more persons or entities;

C. "interested person" means any secured or unsecured creditor, a shareholder of a corporation, a general or limited partner of a partnership or a person jointly owning or interested in a receivership estate; and

D. "receivership estate" means tangible and intangible property, its proceeds, profits, substitutions, additions, fixtures and accretions for which a receiver is sought.

History: Laws 1995, ch. 81, § 3.

Spouse in a divorce action was an interested party. — Where the injured spouse was severely injured when the driving spouse attempted to pass on a blind curve and collided head-on with another vehicle; the injured spouse sued the driving spouse for personal injuries and the driving spouse's insurer for bad faith; during the pendency of the personal injury action, the driving spouse filed a divorce action against the injured spouse; and at the injured spouse's request and because of the driving spouse's Alzheimer's disease, the district court appointed a receiver to manage the driving spouse's bad faith claim against the insurer, the injured spouse had a sufficient interest to request the appointment of a receiver because the injured spouse had an interest in preserving community property and separate property assets that could be used in arriving at a final settlement of the marital dispute. Dydek v. Dydek, 2012-NMCA-088, 288 P.3d 872.