42:3-20 - Designation or appointment of trustees or receivers - New Jersey Statutes

42:3-20.  Designation or appointment of trustees or receivers
    If, in the action under section 42:3-19 of this Title, it shall appear to the court that such association has so expired or been dissolved, it may either  continue the managers acting as such at the expiration or dissolution of the  association, or the surviving managers or manager, trustees or trustee as  provided by section 42:3-16 of this Title, or appoint one or more persons to be  receivers of such association, and the creditors and members thereof.

     Amended by L.1953, c. 40, p. 762, s. 10, eff. March 19, 1953.