- a. Upon appointment, the receiver shall become vested with the title to all the property of the corporation, of every nature, including its franchises.
- b. For the purpose of avoiding encumbrances, transfers and preferences, the right and title of a receiver shall relate back to the date upon which the receivership action commenced.
L.1983, c. 127, s. 15A:14-4, eff. Oct. 1, 1983.