§415A-18.5 - Trustees or receivers for dissolved professional corporations; appointment; powers; duties.
[§415A-18.5] Trustees or receivers for
dissolved professional corporations; appointment; powers; duties. (a)
When any professional corporation organized and authorized to issue shares
under the laws of this State shall be or shall have been dissolved or shall
cease or shall have ceased to exist, the circuit court, upon application of any
creditor, stockholder, or director of the corporation, or any other person who
shows good cause therefor, and upon a finding that the persons responsible for
settling the unfinished business and winding up the affairs of the corporation
either are not diligently pursuing such obligations, or cannot be found or
otherwise are not available, may either appoint one or more of the directors of
the corporation to be trustees or appoint one or more persons to be receivers
of and for the corporation, to do all acts that are necessary for the final
settlement of the unfinished business of the corporation. The powers of the
trustees or receivers shall be effective for the time period determined by the
circuit court.
(b) The relief provided in this section shall
be in addition to, and shall not limit or diminish, any remedies otherwise
available under the common law or other state or federal statutes or rules. In
the event of a conflict between this section and any common law or other state
statutes or rules on the subject, the more beneficial provisions favoring the
applicant shall prevail. [L 2008, c 54, §1]