New Jersey Statutes - Title 15A Corporations, Nonprofit - 15A:14-19 Discontinuance of receivership action
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New Jersey Laws > Corporations Nonprofit > New Jersey Statutes - Title 15A Corporations, Nonprofit - 15A:14-19 Discontinuance of receivership action
15A:14-19. Discontinuance of receivership action
A receivership action against a corporation may be discontinued at any time when it is established that cause for the action no longer exists. In that event, the court shall dismiss the proceedings and direct the receiver to redeliver to the corporation all its property remaining in the receiver's hands. Upon the redelivery, the corporation shall be revested with full rights in the property and in its franchises as if the receiver had not been appointed.
L.1983, c. 127, s. 15A:14-19, eff. Oct. 1, 1983.
Sections: 14-12 14-13 14-14 14-15 14-16 14-17 14-18 14-19 14-20 14-21 14-22 14-23 14-24 14-25 14-26
Last modified: February 13, 2012
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