Legislation
SECTION 1114
Discontinuance of action or special proceeding
Not-for-Profit Corporation (NPC) CHAPTER 35, ARTICLE 11
§ 1114. Discontinuance of action or special proceeding.
An action or special proceeding for the dissolution of a corporation
may be discontinued at any stage when it is established that the cause
for dissolution did not exist or no longer exists. In such event, the
court shall dismiss the action or special proceeding and direct any
receiver to redeliver to the corporation all its remaining property.
An action or special proceeding for the dissolution of a corporation
may be discontinued at any stage when it is established that the cause
for dissolution did not exist or no longer exists. In such event, the
court shall dismiss the action or special proceeding and direct any
receiver to redeliver to the corporation all its remaining property.