§ 78B-21-104 — Scope -- Exclusions.

(1) Except as otherwise provided in Subsection (2) or (3), this chapter applies to a receivership for an interest in real property and any personal property related to or used in operating the real property.
(2) This chapter does not apply to a receivership for an interest in real property improved by one to four dwelling units unless:

(2)(a) the interest is used for agricultural, commercial, industrial, or mineral-extraction purposes, other than incidental uses by an owner occupying the property as the owner's primary residence;
(2)(b) the interest secures an obligation incurred at a time when the property was used or planned for use for agricultural, commercial, industrial, or mineral-extraction purposes;
(2)(c) the owner planned or is planning to develop the property into one or more dwelling units to be sold or leased in the ordinary course of the owner's business; or
(2)(d) the owner is collecting or has the right to collect rents or other income from the property from a person other than an affiliate of the owner.
(3) This chapter does not apply to a receivership authorized by law of this state other than this chapter in which the receiver is a governmental unit or an individual acting in an official capacity on behalf of the governmental unit.
(4) This chapter does not limit the authority of a court to appoint a receiver under other state law.
(5) Unless displaced by a particular provision of this chapter, the principles of law and equity supplement this chapter.

Legislative History

Enacted by Chapter 431, 2017 General Session