The liquidation of the assets and business of an electric membership corporation may be discontinued at any time during the liquidation proceedings when it is established that cause for liquidation no longer exists. In such event, the court shall dismiss the proceedings and direct the receiver to redeliver to the electric membership corporation all of its remaining property and assets.
(Code 1933, § 34C-1216, enacted by Ga. L. 1981, p. 1587, § 1.)
RESEARCH REFERENCES
C.J.S.
- 19 C.J.S., Corporations, § 839.