If, at the time of the filing of a complaint for involuntary dissolution or at any time thereafter, the court has reasonable grounds to believe that unless a receiver of the corporation is appointed the interests of the corporation and its shareholders will suffer pending the hearing and determination of the complaint, upon the application of the plaintiff, and after a hearing upon such notice to the corporation as the court may direct and upon the giving of security pursuant to Sections 566 and 567 of the Code of Civil Procedure, the court may appoint a receiver to take over and manage the business and affairs of the corporation and to preserve its property pending the hearing and determination of the complaint for dissolution.
Cal. Corp. Code § 1803
Involuntary Dissolution
Known as the General Corporation Law
The act spans §§ 100–2319 (398 sections).
Applied in 1 court decision — leading case 114 Cal. App. 4th 791 - Gold v. Gold Realty Co. (2003)
Most recently applied in 114 Cal. App. 4th 791 - Gold v. Gold Realty Co. (December 2003)
Added by Stats. 1975, Ch. 682.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.