A receiver shall meet the following qualifications:
A. the person must be at least eighteen years of age or a corporation or other business entity in good standing authorized to do business in New Mexico;
B. the person must not be otherwise disqualified under applicable state or federal law to administer the receivership estate;
C. before entering on his duties as receiver, the receiver shall sign and file a consent to act as receiver; and
D. upon request and a showing of good cause by an interested party, the district court may require the receiver to post a bond unless the mortgage, security agreement, contract or other written agreement dispenses with the posting of bond. The amount of the bond shall be as ordered by the court.
History: Laws 1995, ch. 81, § 6.