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This entry was published on 2014-09-22
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Disposition of moneys retained; surplus; unclaimed distributions
Not-for-Profit Corporation (NPC) CHAPTER 35, ARTICLE 12
§ 1212. Disposition of moneys retained; surplus; unclaimed


(a) When any action pending at the time of final distribution shall be
terminated, the receiver shall apply the moneys retained by the receiver
to the payment of the amount recovered, and the receiver's necessary
charges and expenses incurred therein.

(b) After the final distribution to creditors and after deducting the
receiver's charges and expenses, the receiver shall distribute any
surplus in the manner prescribed in section 1002-a of this chapter or,
if dissolution of the corporation is not involved, in such manner as the
court shall order.