31A-27a-802. Discharge of liquidator and termination of liquidation proceedings.
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31A-27a-802. Discharge of liquidator and termination of liquidation proceedings.
(1)When all property justifying the expense of collection and distribution is collected and distributed under this chapter, the liquidator shall apply to the receivership court for an order discharging the liquidator and terminating the proceeding.
(2)The receivership court may grant the application and make any other orders, including orders to:
(a)transfer any remaining funds that are uneconomic to distribute; or
(b)pursuant to Subsection 31A-27a-703(3) , assign an asset that remains unliquidated, including a claim or cause of action, as may be considered appropriate.
Enacted by Chapter 309 , 2007 General Session