Section 60: Effect of appointment of receiver on order, deposit or payments; deposit by receiver
122 words·~1 min read·
/ma/part-i/title-xxi/chapter-152/60·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 60. The appointment of a receiver of a domestic company under section six of chapter one hundred and seventy-five shall not affect any order of the said commissioner or deposit made under section fifty-seven prior to such appointment, and the state treasurer or trustee appointed and approved as provided in section fifty-nine shall retain any deposit made with him as provided in section fifty-seven or fifty-nine and make the payments therefrom as provided in section fifty-nine.
If a receiver is so appointed prior to compliance by the company with any such order, he shall, as soon as may be after his appointment, make the deposit required by said order, if the assets of the company in his hands are sufficient therefor.