California Codes, Code of Civil Procedure - CCP, Part 2 — Of Civil Actions, Title 7 — Other Provisional Remedies in Civil Actions, Chapter 5 — Receivers, Section 565

Upon the dissolution of any corporation, the Superior Court of the county in which the corporation carries on its business or has its principal place of business, on application of any creditor of the corporation, or of any stockholder or member thereof, may appoint one or more persons to be receivers or trustees of the corporation, to take charge of the estate and effects thereof, and to collect the debts and property due and belonging to the corporation, and to pay the outstanding debts thereof, and to divide the moneys and other property that shall remain over among the stockholders or members.

Notes

Allows the superior court where a dissolved corporation conducts business or has its principal place of business, on application by a creditor, stockholder, or member, to appoint receivers or trustees. They may take charge of corporate assets, collect debts and property, pay outstanding debts, and distribute remaining money and property among stockholders or members.

Use as reference

Lexinter.net | California Code, Code of Civil Procedure - CCP § 565 | https://laws.lexinter.net/codes/california/code-of-civil-procedure/part-2/title-7/chapter-5/section-565

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