New York Not-For-Profit Corporation Law Section 1202 - Appointment of receiver of property of a domestic or foreign corporation.

1202. Appointment  of  receiver  of  property of a domestic or foreign
        corporation.
(a)  A receiver of the property of a corporation can be appointed only
  by the court, and in one of the following cases:
(1)   An  action  or  special  proceeding  brought  under  article  10
  (Non-judicial dissolution) or 11 (Judicial dissolution).
(2)    An  action  under section 1201 (Action by judgment creditor for
  sequestration).
(3)   An action brought by  the  attorney-general  under  section  112
  (Actions  or special proceedings by attorney-general), or brought by the
  attorney-general or by a member to preserve the assets of a corporation,
  which has no officer within this state qualified to administer them.
(4)  An action to preserve the assets in  this  state,  of  any  kind,
  tangible  or  intangible,  of  a  foreign  corporation  which  has  been
  dissolved,  nationalized  or  its  authority  or   existence   otherwise
  terminated  or  cancelled  in  the  jurisdiction of its incorporation or
  which has ceased to conduct its activities, brought by any  creditor  or
  member  of  such  corporation  or  by  one  on  whose behalf an order of
  attachment against the property of such corporation has been issued.
(5)  An action brought for the foreclosure of a mortgage upon property
  of the corporation, where the mortgage debt or the interest thereon  has
  remained  unpaid  for  at  least  thirty days after payment demanded and
  where either the income of the property is specifically mortgaged or the
  property itself appears to be insufficient to pay the mortgage debt.   A
  receiver appointed under this subparagraph shall be receiver only of the
  property upon which the mortgage is being foreclosed.
(6)    An  application of the regents of the university, in aid of the
  liquidation of a corporation whose dissolution they contemplate or  have
  decreed; or on the application of the trustees of such a corporation, on
  notice to the regents.
(b)    A  receiver shall be subject to the control of the court at all
  times and may be removed by the court at any time.
(c)   All actions or special  proceedings  brought  by  or  against  a
  receiver  shall  have a preference upon the calendars of all courts next
  in order to actions or special proceedings brought by the people of  the
  state of New York.

Last modified: February 3, 2019