§ 1‑507.54.  Effect of enforcement by secured party.

A request by a secured party for the appointment of a receiver, the appointment of a receiver, or application by a secured party of receivership property to the secured obligation does not do any of the following:

(1) Make the secured party a mortgagee in possession of real property.

(2) Impose any duty on the secured party under G.S. 25‑9‑207.

(3) Make the secured party an agent or fiduciary of the debtor.

(4) Constitute an election of remedies that precludes a later action to enforce the secured obligation.

(5) Make the secured obligation unenforceable.

(6) Limit any right available to the secured party with respect to the secured obligation. (2020‑75, s. 1.)