Duration of receivership

(a) The receiver shall be appointed for an initial period of not more than six (6) months. (b) The initial six-month period may be extended for an additional period of ninety (90) days with approval of the circuit court upon a showing of good cause. Acts 1988 (4th Ex. Sess.), No. 3, § 1; 1988 (4th Ex. Sess.), No. 13, § 1. (a) The receiver shall be appointed for an initial period of not more than six (6) months. (b) The initial six-month period may be extended for an additional period of ninety (90) days with approval of the circuit court upon a showing of good cause. Acts 1988 (4th Ex. Sess.), No. 3, § 1; 1988 (4th Ex. Sess.), No. 13, § 1.