<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="24-405" title_number="24" title_name="Maryland Commercial Receivership Act" subtitle_number="4" subtitle_name="Effect of Receivership">
  <text>A request by a mortgagee for the appointment of a receiver, the appointment of a receiver, or the application by a mortgagee of receivership property or proceeds to the secured obligation does not:</text>
  <level label="1">
    <text>Make the mortgagee a mortgagee in possession of the real property;</text>
  </level>
  <level label="2">
    <text>Make the mortgagee an agent of the owner;</text>
  </level>
  <level label="3">
    <text>Constitute an election of remedies that precludes a later action to enforce the secured obligation;</text>
  </level>
  <level label="4">
    <text>Make the secured obligation unenforceable; or</text>
  </level>
  <level label="5">
    <text>Limit any right available to the mortgagee with respect to the secured obligation.</text>
  </level>
</section>
