§ 5988 — Discontinuance of proceedings; reorganization

Pennsylvania § 5988

• Jurisdiction: Pennsylvania
• Title 15: CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
• Part: PART II
• Ch. 59: AMENDMENTS, SALE OF ASSETS
• Subch.: INVOLUNTARY LIQUIDATION AND DISSOLUTION

Text

The proceedings under this subchapter may be discontinued at any time if it is established that cause for liquidation no longer exists, in which event the court shall dismiss the proceedings and direct the receiver to redeliver to the nonprofit corporation all its remaining property and assets.

Legislative History

(July 9, 2013, P.L.476, No.67, eff. 60 days)