N.Y. Business Corporation Law § 1203: Temporary and permanent receiver

§ 1203. Temporary and permanent receiver.

(a) At any stage before final judgment or final order in an action or

special proceeding brought under this article, the court may appoint one

or more receivers of the property of the corporation or of the property

in this state of a foreign corporation against which an action has been

brought under subparagraph (a) (4) of section 1202 (Appointment of

receiver of property of a domestic or foreign corporation). Notice of an

application for the appointment of a receiver shall be given to the

attorney-general and to such other persons and in such manner as the

court directs. The determination by the court of the necessity or

advisability of appointing a receiver or an attorney for a receiver, and

the allowance of expenses, commissions or compensation to the receiver

or his attorney, shall be subject to review on appeal. This provision

shall not affect any other right to review on appeal.

(b) A receiver appointed by or under a final judgment or order in an

action or special proceeding, or a temporary receiver who is continued

by the final judgment or order, is a permanent receiver. The court may

confer upon a temporary receiver the powers, and subject him to the

duties of a permanent receiver, or so much thereof as it deems proper.