15A:14-19 - Discontinuance of receivership action - New Jersey Statutes

15A:14-19.  Discontinuance of receivership action
    A receivership action against a corporation may be discontinued at any time  when it is established that cause for the action no longer exists.  In that  event, the court shall dismiss the proceedings and direct the receiver to  redeliver to the corporation all its property remaining in the receiver's hands.  Upon the redelivery, the corporation shall be revested with full rights  in the property and in its franchises as if the receiver had not been appointed.

     L.1983, c. 127, s. 15A:14-19, eff. Oct. 1, 1983.