The court may appoint a temporary non-liquidating receiver on the request of the owner if:

(1)  As of the date of an emergency declaration, the owner was not insolvent;

(2)  As of the date of an emergency declaration, the owner was generally paying its debts as those debts became due;

(3)  As of the date of an emergency declaration, the owner was not in material default of its obligations to a secured party; and

(4)  Either:

(i)  Because of the events giving rise to the emergency, the owner’s gross revenue has declined by more than twenty percent (20%), in a sixty (60) day period beginning on or after the date of an emergency declaration, as compared to the same period of the previous year; or

(ii)  Because of action by a governmental unit exercising its police or regulatory power to mitigate or otherwise address the emergency, the owner suspended or ceased a substantial part of its business operations.