State Act
Section 109. Appointment of receiver and his powers.
The Telangana Co-operative Societies Act, 1964.
109. (1) The Board may, on the application of an *[Agricultural Development Bank] and under circumstances in which the power of sale conferred by section 104 may be exercised, appoint in writing a receiver of the produce and income of the mortgaged property or any part thereof and such receiver shall be entitled either to take possession of the property or collect its produce and income, as the case may be to retain out of any money realised by him, his expenses of management including his remuneration, if any, as fixed by the Board and to apply the balance in accordance with provisions of sub-section (8) of section 69-A of the Transfer of Property Act, 1882. (2) The Board may for sufficient cause, remove such receiver on an application made by the mortgagor and fill a vacancy in the office of the receiver. (3) Nothing in this section shall empower the Board to appoint a receiver where the mortgaged property is already in the possession of a receiver appointed by a competent court.