§ 1202. Appointment of receiver of property of a domestic or foreign\n corporation.\n (a) A receiver of the property of a corporation can be appointed only\nby the court, and in one of the following cases:\n (1) An action or special proceeding brought under article 10\n(Non-judicial dissolution) or 11 (Judicial dissolution).\n (2) An action under section 1201 (Action by judgment creditor for\nsequestration).\n (3) An action brought by the attorney-general under section 112\n(Actions or special proceedings by attorney-general), or brought by the\nattorney-general or by a member to preserve the assets of a corporation,\nwhich has no officer within this state qualified to administer them.\n (4) An action to preserve the assets in this state, of any kind,\ntangible or intangible, of a foreign corporation which has been\ndissolved, nationalized or its authority or existence otherwise\nterminated or cancelled in the jurisdiction of its incorporation or\nwhich has ceased to conduct its activities, brought by any creditor or\nmember of such corporation or by one on whose behalf an order of\nattachment against the property of such corporation has been issued.\n (5) An action brought for the foreclosure of a mortgage upon property\nof the corporation, where the mortgage debt or the interest thereon has\nremained unpaid for at least thirty days after payment demanded and\nwhere either the income of the property is specifically mortgaged or the\nproperty itself appears to be insufficient to pay the mortgage debt. A\nreceiver appointed under this subparagraph shall be receiver only of the\nproperty upon which the mortgage is being foreclosed.\n (6) An application of the regents of the university, in aid of the\nliquidation of a corporation whose dissolution they contemplate or have\ndecreed; or on the application of the trustees of such a corporation, on\nnotice to the regents.\n (b) A receiver shall be subject to the control of the court at all\ntimes and may be removed by the court at any time.\n (c) All actions or special proceedings brought by or against a\nreceiver shall have a preference upon the calendars of all courts next\nin order to actions or special proceedings brought by the people of the\nstate of New York.\n
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