New Jersey Statutes
§ 15A:14-19 — Discontinuance of receivership action
New Jersey·Title 15A CORPORATIONS, NONPROFIT
A receivership action against a corporation may be discontinued at any time when it is established that cause for the action no longer exists. In that event, the court shall dismiss the proceedings and direct the receiver to redeliver to the corporation all its property remaining in the receiver's hands. Upon the redelivery, the corporation shall be revested with full rights in the property and in its franchises as if the receiver had not been appointed. L.1983, c. 127, s. 15A:14-19, eff. Oct. 1, 1983.
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Nearby Sections
15
§ 15A:14-1
Definitions§ 15A:14-10
Fraudulent transfers§ 15A:14-12
Fraudulent transfers; continued§ 15A:14-13
Liens by legal process§ 15A:14-14
Preferences§ 15A:14-15
Notice to creditors§ 15A:14-16
Claims; presentation; approval or rejection§ 15A:14-17
Claims; jury trial§ 15A:14-18
Review of receiver's actions§ 15A:14-19
Discontinuance of receivership action§ 15A:14-21
Distribution of assets; priorities§ 15A:14-22
Judgment of dissolution