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      RS 12:254     


§254.  Dissolution proceedings under judicial supervision; procedure; powers of liquidator

A.  Dissolution under supervision by the court is a summary proceeding.  

B.  Each judicial liquidator confirmed or appointed as provided in R.S. 12:250(E), 250(F) or 251(E), after giving such bond as the court may require for the faithful performance of his duties, shall proceed with the liquidation of the affairs of the corporation under the supervision of the court.  

C.  A judicial liquidator in dissolution proceedings shall have full authority to retain counsel and auditors, and to prosecute and defend actions; shall have authority to compromise, compound and settle claims by or against the corporation upon such terms as he deems best, subject to supervision by the court; and shall have such other powers as the court may in its discretion grant, which, without limiting the scope of the court's discretion, may include any or all powers enumerated in R.S. 12:253(C).  A judicial liquidator shall have no power or right to have an inventory of the corporation's assets made by a notary public.  

D.  The court may enter such injunctive and other orders, ex parte or on such notice as the court may prescribe, as it may deem appropriate, except that the court shall not order or permit the making of an inventory of the corporation's assets by a notary public.  

Acts 1968, No. 105, §1.  

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