§ 1115. Injunction.
179 words·~1 min read·
/ny/business-corporation/judicial-dissolution/1115·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 1115. Injunction.
(a)At any stage of an action or special proceeding under this
article, the court may, in its discretion, grant an injunction,
effective during the pendency of the action or special proceeding or
such shorter period as it may specify in the injunction, for one or more
of the following purposes:
(1)Restraining the corporation and its directors and officers from
transacting any unauthorized business and from exercising any corporate
powers, except by permission of the court.
(2)Restraining the corporation and its directors and officers from
collecting or receiving any debt or other property of the corporation,
and from paying out or otherwise transferring or delivering any property
of the corporation, except by permission of the court.
(3)Restraining the creditors of the corporation from beginning any
action against the corporation, or from taking any proceedings in an
action theretofore commenced, except by permission of the court. Such
injunction shall have the same effect and be subject to the same
provisions of law as if each creditor upon whom it is served was named
therein.