[Insolvency of municipal irrigation districts; appointment

of receiver.] That whenever any municipal irrigation district shall become insolvent and unable to pay its debts, the district court may, at the suit of its board of directors, appoint a receiver for such municipal irrigation district, to operate the same under the court's directions, for the purpose of conducting the affairs of such irrigation district. History: Laws 1931, ch. 55, § 1; 1941 Comp., § 77-2539; 1953 Comp., § 75-26-38.