New Jersey Statutes 15A:14-3. Multiple receivers
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Terms Used In New Jersey Statutes 15A:14-3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
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.