7-7-4631. Role of receiver. (1) The receiver appointed pursuant to 7-7-4630 shall forthwith, directly or by his agents and attorneys, enter into and upon and take possession of the enterprise and each and every part thereof and may exclude the municipality, its governing body, officers, agents, and employees and all persons claiming under them wholly therefrom and shall have, hold, use, operate, manage, and control the same and each and every part thereof and, in the name of the municipality or otherwise as the receiver may deem best, shall exercise all the rights and powers of the municipality with respect to the enterprise as the municipality itself might do.
     (2) Such receiver shall:
     (a) maintain, restore, insure, and keep insured the enterprise and from time to time make all such necessary or proper repairs as may seem expedient to such receiver;
     (b) establish, levy, maintain, and collect such fees, tolls, rentals, and other charges in connection with the enterprise as such receiver may deem necessary or proper and reasonable; and
     (c) collect and receive all revenues and deposit the same in a separate account and apply such revenues so collected and received in such manner as the court shall direct.
     (3) Such receiver shall, in the performance of the powers conferred upon him, act under the direction and supervision of the court making such appointment and shall at all times be subject to the orders and decrees of such court and may be removed thereby. Nothing herein contained shall limit or restrict the jurisdiction of such court to enter such other and further orders and decrees as such court may deem necessary or appropriate for the exercise by the receiver of any functions specifically set forth herein.

     History: En. Sec. 14, Ch. 121, L. 1937; R.C.M. 1947, 79-1914(2), (4).