Section 29-12-108 - Receiver for corporate property

In such cases the court may appoint a receiver, take an account of the affairs of the corporation, and apply the property and effects to the payment of debts pro rata, and divide the surplus, if any, among the stockholders.Code 1858, § 4295 (deriv. Acts 1851-1852, ch. 172, § 1); Shan., §6104; Code 1932, § 10365; T.C.A. (orig. ed.), § 23-1008.