State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_1 > GS_1-507_3

§1‑507.3.  Title and inventory.

All of the real and personalproperty of an insolvent corporation, wheresoever situated, and all itsfranchises, rights, privileges and effects, upon the appointment of a receiver,forthwith vest in him, and the corporation is divested of the title thereto.Within thirty days after his appointment he shall lay before the court a fulland complete inventory of all estate, property, and effects of the corporation,its nature and probable value, and an account of all debts due from and to it,as nearly as the same can be ascertained, and shall make a report of hisproceedings to the superior court at such times as the court may direct duringthe continuance of the trust. (1901, c. 2, ss. 75, 80;Rev., ss. 1224, 1225; C.S., s. 1210; 1945, c. 635; 1955, c. 1371, s. 2.)