BASIS FOR APPOINTMENT OF RECEIVER IN CALIIFORNIA

 

The broadest, but by no means only, California statute addressing the appointment of receivers is Code of Civil Procedures Section 564. A few additional statutory California bases for appointment are:

 

 

 

  • Corporations Code Section 1803 - Upon suit for involuntary liquidation of a corporation by shareholders or directors, to preserve assets until determination of the merits of the suit

 

 

 

 

  • Corporations Code Section 29540(a) - The California Commissioner of Corporations may seek appointment of a receiver over a corporation operating in violation of the Corporations Code

 

 

 

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