Appointment of Receiver Upon Dissolution of Corporations

Upon the dissolution of any corporation, the court having jurisdiction 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. SOURCE: CCP § 565.