Section 1203. Temporary and permanent receiver  


Latest version.
  • (a)  At any stage before final judgment or final order in an action or
      special proceeding brought under this article, the court may appoint one
      or  more receivers of the property of the corporation or of the property
      in this state of a foreign corporation against which an action has  been
      brought  under  subparagraph  (a)  (4) of section 1202 (Appointment of a
      receiver of property of a domestic or foreign corporation).   Notice  of
      an   application  shall  be  given  to  the  attorney-general,  to  each
      governmental  body  or  officer  whose  consent  is  required  for   the
      dissolution  of  such corporation, and to such other persons and in such
      manner as the court directs.   The determination by  the  court  of  the
      necessity  or advisability of appointing a receiver or an attorney for a
      receiver, and the allowance of expenses, commissions or compensation  to
      the  receiver  or  his  attorney,  shall be subject to review on appeal.
      This provision shall not affect any other right to review on appeal.
        (b)  A receiver appointed by or under a final judgment or order in  an
      action  or  special proceeding, or a temporary receiver who is continued
      by the final judgment or order, is a permanent receiver.  The court  may
      confer  upon  a  temporary  receiver  the powers, and subject him to the
      duties of a permanent receiver, or so much thereof as it deems proper.