In such cases the court may appoint a receiver, take an account of the affairs of the corporation, and apply the property and effects to the payment of debts pro rata, and divide the surplus, if any, among the stockholders.
Code 1858, § 4295 (deriv. Acts 1851-1852, ch. 172, § 1); Shan., § 6104; Code 1932, § 10365; T.C.A. (orig. ed.), § 23-1008.
Textbooks. Tennessee Jurisprudence, 21 Tenn. Juris., Receivers, § 7.
Law Reviews.
Preferences, Priorities, and Powers of the State in the Collection of Delinquent Revenue: Tennessee's Tax Enforcement Procedures Act (Donald J. Serkin), 8 Mem. St. U.L. Rev. 707.