§ 12650. — 12650. (Added by Stats. 1982, Ch. 1625, Sec. 3.)

The powers and duties of the directors (or other persons appointed by the court pursuant to Section 12625) and officers after commencement of a dissolution proceeding include, but are not limited to, the following acts in the name and on behalf of the corporation:
(a)
To elect officers and to employ agents and attorneys to liquidate or wind up its affairs.
(b)
To continue the conduct of the affairs of the corporation insofar as necessary for the disposal or winding up thereof.
(c)
To carry out contracts and collect, pay, compromise, and settle debts and claims for or against the corporation.
(d)
To defend suits brought against the corporation.
(e)
To sue, in the name of the corporation, for all sums due or owing to the corporation or to recover any of its property.
(f)
To collect any amounts remaining unpaid on memberships or to recover unlawful distributions.
(g)
To sell at public or private sale, exchange, convey, or otherwise dispose of all or any part of the assets of the corporation for an amount deemed reasonable by the board without compliance with the provisions of Section 12521, and to execute bills of sale and deeds of conveyance in the name of the corporation.
(h)
In general, to make contracts and to do any and all things in the name of the corporation which may be proper or convenient for the purposes of winding up, settling, and liquidating the affairs of the corporation.

Legislative History

Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.