The presiding judge of the Superior Court in which the action is pending or other Superior judge may authorize the receivers or managers of property in the course of administration in that court, when the interest of the parties or property requires it, to borrow money for the proper and convenient discharge of their duties and on such terms, conditions, limitations, and security as shall to the court seem fit. This section shall not prevent the receivers or managers from borrowing money for temporary purposes. (Amended 1971, No. 185 (Adj. Sess.), § 123, eff. March 29, 1972; 1973, No. 193 (Adj. Sess.), § 3, eff. April 9, 1974.)