Such judgment of dissolution shall not extinguish the debt due to or from the corporation; but the court shall appoint a receiver, with full power to take possession of all the debts and property, and sell, dispose of, collect, and distribute the same among the creditors and other persons interested, under the orders of the court.
Code 1858, § 3426 (deriv. Acts 1845-1846, ch. 55, § 7); Shan., § 5182; Code 1932, § 9353; T.C.A. (orig. ed.), § 23-2818.
Textbooks. Tennessee Jurisprudence, 7 Tenn. Juris., Corporations, § 122; 21 Tenn. Juris., Receivers, § 7.