Statutes > New Mexico Statutes > Chapter 73 - Special Districts. > Article 13 - General Provisions Relating to Irrigation Districts, 73-13-1 through 73-13-47. > Section 73-13-38 - Insolvency of municipal irrigation districts; appointment of receiver.

Section 73-13-38 - Insolvency of municipal irrigation districts; appointment of receiver.

73-13-38. [Insolvency of municipal irrigation districts; appointment of receiver.]

That whenever any municipal irrigation district shall become insolvent and unable to pay its debts, the district court may, at the suit of its board of directors, appoint a receiver for such municipal irrigation district, to operate the same under the court's directions, for the purpose of conducting the affairs of such irrigation district.