15A:14-3. Multiple receivers
68 words·~1 min read·
/nj/title-15a/chapter-14/15a-14-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When more than one receiver of a corporation is appointed:
(a)the provisions of this chapter applicable to one receiver shall be applicable to all;
(b)the debts and property of the corporation may be collected and received by any of them; and
(c)the powers and rights conferred upon them may be exercised by a majority of them.
L.1983, c. 127, s. 15A:14-3, eff. Oct. 1, 1983.