Section 10-3A-153 Discontinuance of liquidation proceedings. - Alabama Statutes

Section 10-3A-153

Discontinuance of liquidation proceedings.

The liquidation of the assets and affairs of a corporation may be discontinued at anytime during the liquidation proceedings when it is established that cause for liquidation no longer exists. In such event, the court shall dismiss the proceedings and direct the receiver to redeliver to the corporation all its remaining property and assets.

(Acts 1984, No. 84-290, p. 502, §61.)