15A:14-9 - Payment or delivery to corporation - New Jersey Statutes

15A:14-9.  Payment or delivery to corporation
    a.  After the commencement of a receivership action, but before the appointment of a receiver, a debtor of the corporation may make payment to the corporation of the debt, and a person holding property of the corporation may deliver it to the corporation, and the payment and the delivery shall have the same effect as if the receivership action were not pending.

    b.  If the payment or the delivery is made after the appointment of a receiver by a person acting in good faith the payment and the delivery shall have the same effect as if a receiver had not been appointed.

     L.1983, c. 127, s. 15A:14-9, eff. Oct. 1, 1983.