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This entry was published on 2014-09-22
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SECTION 1203
Temporary and permanent receiver
Not-for-Profit Corporation (NPC) CHAPTER 35, ARTICLE 12
§ 1203. Temporary and permanent receiver.

(a) At any stage before final judgment or final order in an action or
special proceeding brought under this article, the court may appoint one
or more receivers of the property of the corporation or of the property
in this state of a foreign corporation against which an action has been
brought under subparagraph (4) of paragraph (a) of section 1202 of this
article. Notice of an application shall be given to the
attorney-general, to each governmental body or officer whose consent is
required for the dissolution of such corporation, and to such other
persons and in such manner as the court directs. The determination by
the court of the necessity or advisability of appointing a receiver or
an attorney for a receiver, and the allowance of expenses, commissions
or compensation to the receiver or such attorney, shall be subject to
review on appeal. This provision shall not affect any other right to
review on appeal.

(b) A receiver appointed by or under a final judgment or order in an
action or special proceeding, or a temporary receiver who is continued
by the final judgment or order, is a permanent receiver. The court may
confer upon a temporary receiver the powers, and subject the temporary
receiver to the duties of a permanent receiver, or so much thereof as it
deems proper.