42:3-20 - Designation or appointment of trustees or receivers
42:3-20.Ā Designation or appointment of trustees or receivers
If, in the action under section 42:3-19 of this Title, it shall appear to the court that such association has so expired or been dissolved, it may eitherĀ continue the managers acting as such at the expiration or dissolution of theĀ association, or the surviving managers or manager, trustees or trustee asĀ provided by section 42:3-16 of this Title, or appoint one or more persons to beĀ receivers of such association, and the creditors and members thereof.
Amended by L.1953, c. 40, p. 762, s. 10, eff. March 19, 1953.
Ā
If, in the action under section 42:3-19 of this Title, it shall appear to the court that such association has so expired or been dissolved, it may eitherĀ continue the managers acting as such at the expiration or dissolution of theĀ association, or the surviving managers or manager, trustees or trustee asĀ provided by section 42:3-16 of this Title, or appoint one or more persons to beĀ receivers of such association, and the creditors and members thereof.
Amended by L.1953, c. 40, p. 762, s. 10, eff. March 19, 1953.
Ā