Subject to the control of the court, a receiver may:

1. (1) take charge and keep possession of the property;
2. (2) receive rents;
3. (3) collect and compromise demands;
4. (4) make transfers; and
5. (5) perform other acts in regard to the property as authorized by the court.

Acts 1985, 69th Leg., ch. 959, Sec. 1, eff. Sept. 1, 1985.