17-6808

Chapter 17.--CORPORATIONS
Article 68.--DISSOLUTION AND DISPOSITION OF CORPORATE ASSETS

      17-6808.   Receivers for dissolved corporations;appointment; powers.When any corporation organized under this act shall be dissolved in any mannerwhatever, the district court, on application of any creditor, stockholder ordirector of the corporation, or any other person who shows good cause therefor,at any time, either may appoint one or more of the directors of the corporationor one or more other persons to be receivers, of and for the corporation, orboth, to take charge of the corporation's property, and to collect the debtsand property due and belonging to the corporation, with power to prosecute anddefend, in the name of the corporation, or otherwise, all such suits as may benecessary or proper for the purposes aforesaid, and to appoint an agent oragents under them, and to do all other acts which might be done by thecorporation, if in being, that may be necessary for the final settlement of theunfinished business of the corporation. The powers of the receivers may becontinued as long as the court shall think necessary forthe purposes aforesaid.

      History:   L. 1972, ch. 52, § 98;L. 1988, ch. 99, § 49;Revived and amend., L. 1988, ch. 100, § 49;L. 2004, ch. 143, § 60; Jan. 1, 2005.