21-21-2. Receivership in foreclosure actions to prevent loss to mortgaged property.
A receiver may be appointed by the court in which the action is pending, or by the judge thereof, in an action by a mortgagee for the foreclosure of his mortgage and sale of the mortgaged property, where it appears that the mortgaged property is in danger of being lost, removed, or materially injured, or that the conditions of the mortgage have not been performed, and that the property is probably insufficient to discharge the mortgage debt.
Source: CCivP 1877, §219, subdiv 2; CL 1887, §5015, subdiv 2; RCCivP 1903, §227, subdiv 2; RC 1919, §2475 (2); SDC 1939 & Supp 1960, §37.2601 (2).
Structure South Dakota Codified Laws
Section 21-21-1 - Pending actions in which receivership authorized to prevent loss of property.
Section 21-21-2 - Receivership in foreclosure actions to prevent loss to mortgaged property.
Section 21-21-3 - Receivership where corporation dissolved, insolvent or unable to function.
Section 21-21-4 - Grounds for receivership after judgment.
Section 21-21-5 - Receivership under usages of equity.
Section 21-21-7 - Party not to be receiver except by consent.
Section 21-21-8 - Oath and undertaking of receiver.
Section 21-21-9 - Powers of receiver in collection and management of property.
Section 21-21-10 - Investment of receivership funds--Consent of parties.