Oklahoma § 12-1551 - Appointment of receiver

§ 12-1551. Appointment of receiver

A receiver may be appointed by a Judge of the Supreme Court or a

district court judge:

1. In an action by a vendor to vacate a fraudulent purchase of

property, or by a creditor to subject any property or fund to his

claim, or between partners or others jointly owning or interested in

any property or fund, on the application of the plaintiff, or of any

party whose right to or interest in the property or fund, or the

proceeds thereof, is probable, and where it is shown that the

property or fund is in danger of being lost, removed or materially

injured.

2. In an action by a mortgagee for the foreclosure of his

mortgage and sale of the mortgaged property or in connection with a

mortgagee foreclosing his mortgage by power of sale under the

Oklahoma Power of Sale Mortgage Foreclosure Act:

a.

where it appears that the mortgaged property is in

danger of being lost, removed or materially injured,

or

b.

that a condition of the mortgage has not been

performed, and that the property is probably

insufficient to discharge the mortgage debt, or

c.

that a condition of the mortgage has not been

performed and the mortgage instrument provides for the

appointment of a receiver.

3. After judgment, to carry the judgment into effect.

4. After judgment, to dispose of the property according to the

judgment, or to preserve it during the pendency of an appeal, or in

proceeding in aid of execution, when an execution has been returned

unsatisfied, or when the judgment debtor refuses to apply his

property in satisfaction of the judgment.

5. In the cases provided in this Code, and by special statutes,

when a corporation has been dissolved, or is insolvent, or in

imminent danger of insolvency, or has forfeited its corporate

rights.

6. In all other cases where receivers have heretofore been

appointed by the usages of the courts of equity.

Oklahoma Statutes - Title 12. Civil Procedure

R.L. 1910, § 4979.

1989.

Amended by Laws 1989, c. 332, § 1, eff. Nov. 1,