483. Termination of receivership.

The mortgagor cannot dismiss the receiver since that power is reserved to the mortgagee1. The receiver will, however, be displaced by the appointment of a receiver by a prior mortgagee. Liquidation of a company mortgagor does not terminate the receiver's appointment or powers, but does terminate his agency for the mortgagor2. If the receiver continues to act, he normally acts as principal