Section 45-3-1204 - Appointment of receiver(a) The commissioner, after taking possession of an association for any of the purposes set forth, may, upon application to and approval by the court in which the notice of possession was filed, place the possession of the association in a receiver.(b) Without limitation to the scope of the powers and responsibilities of a receiver under any law of this state, the receiver shall have all the rights, powers, duties, and obligations granted to the commissioner in possession.Acts 1978, ch. 708, § 5.04; T.C.A., § 45-1704.