2021 New Mexico Statutes
Chapter 44 - Miscellaneous Civil Law Matters
Article 8 - Receivership Act
Section 44-8-7 - Powers and duties of receivers.

Unless otherwise ordered by the district court, a person who acts as a receiver shall:

A. prepare an inventory of the receivership estate within thirty days of appointment and file that inventory with the district court;

B. collect and manage the receivership estate in a reasonable and prudent manner;

C. file monthly operating reports with the district court and provide copies to all parties who have entered an appearance and allow such parties reasonable access to the books and records of the receivership;

D. enter into contracts reasonably necessary to operate, maintain and preserve the receivership estate;

E. take possession of all available books, records and other documents related to the receivership estate;

F. lease assets of the receivership estate in accordance with the powers and limitations contained in the original order of appointment;

G. bring and defend actions in his capacity as receiver to maintain and preserve the receivership estate;

H. subject to prior order of the district court, engage and retain attorneys, accountants, brokers or any other persons and pay their compensation or fees, sell or mortgage property of the receivership estate, borrow money for the receivership estate, make distributions of receivership proceeds to any party or pay compensation to the receiver; and

I. exercise any other powers expressly granted by statute or an order of the district court.

History: Laws 1995, ch. 81, § 7.

Duty to account. — In a divorce proceeding, where the court ordered the wife to manage, oversee and liquidate the parties' assets and to provide monthly accountings to the husband of assets sold and debts paid; the court subsequently appointed a special master to review and resolve issues concerning the liquidation of family businesses; the court subsequently ordered the special master to complete the liquidation of the estate; and the wife continued to be actively involved in the liquidation of the community assets after the special master was appointed, the wife was not relieved of her responsibility to account. Muse v. Muse, 2009-NMCA-003, 145 N.M. 451, 200 P.3d 104.