Effect of Appointment of Receiver on Order, Deposit or Payments; Deposit by Receiver

Checkout our iOS App for a better way to browser and research.

Section 60. The appointment of a receiver of a domestic company under section six of chapter one hundred and seventy-five shall not affect any order of the said commissioner or deposit made under section fifty-seven prior to such appointment, and the state treasurer or trustee appointed and approved as provided in section fifty-nine shall retain any deposit made with him as provided in section fifty-seven or fifty-nine and make the payments therefrom as provided in section fifty-nine. If a receiver is so appointed prior to compliance by the company with any such order, he shall, as soon as may be after his appointment, make the deposit required by said order, if the assets of the company in his hands are sufficient therefor.


Download our app to see the most-to-date content.