14A:14-4. Title to corporate property and franchises
54 words·~1 min read·
/nj/title-14a/chapter-14/14a-14-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Upon his appointment, the receiver shall become vested with the title to all the property of the corporation, of every nature, including its franchises.
(2)For the purpose of avoiding encumbrances, transfers and preferences, the right and title of a receiver shall relate back to the date upon which the receivership action commenced.