14A:14-4 - Title to corporate property and franchises - New Jersey Statutes

14A:14-4.  Title to corporate property and franchises    (1) Upon his appointment, the receiver shall become vested with the title to  all the property of the corporation, of every nature, including its franchises.

    (2) For the purpose of avoiding encumbrances, transfers and preferences, the  right and title of a receiver shall relate back to the date upon which the  receivership action commenced.
 
L.1968, c.350.