14A:12-15. Jurisdiction of the Superior Court
156 words·~1 min read·
/nj/title-14a/chapter-12/14a-12-15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
At any time after a corporation has been dissolved in any manner, a creditor, as defined in subsection 14A:12-12(3), or a shareholder of the corporation, or the corporation itself, may apply to the Superior Court for a judgment that the affairs of the corporation and the liquidation of its assets continue under the supervision of the court. The court shall have power to proceed in a summary manner or otherwise upon such application, and shall make such orders and judgments as may be required, including, but not limited to, the continuance of the liquidation of the corporation's assets by its officers and directors under the supervision of the court, or the appointment of a receiver of the corporation, who shall be vested with all the powers provided in Chapter 14 to be exercised by receivers appointed to liquidate the affairs of a corporation.
L.1968, c.350; amended by L.1973, c. 366, s. 72, eff. May 1, 1974.