Whenever action has been commenced for the foreclosure of liens, under this chapter, and a majority of the lien holders, parties to such action, shall by motion request the appointment of a receiver, the court may appoint a receiver to take possession of all the property covered by such liens and to take care of and preserve the same.

Source: SL 1909, ch 51 , § 8; SL 1915, ch 243 , § 8; RC 1919, § 1638; SDC 1939, § 39.0717.