When any insurance company or any corporation having banking powers, or the power to make loans on pledges or deposits, becomes insolvent or unable to pay its debts, or neglects or refuses to pay its notes or evidences of debt on demand, or violates any provision of the act under which it was incorporated, or of any other law obligatory upon it, the court may, by injunction, restrain it and its officers from exercising any of its corporate rights, privileges, and franchises, and from collecting or receiving any debts or demands, and from paying out or in any way transferring or delivering to any person any of its moneys, property, or effects, until otherwise ordered by the court.
(8020) RL s 3179
Structure Minnesota Statutes
Chapters 300 - 323A — Business, Social, And Charitable Organizations
Chapter 316 — Corporations; Actions Respecting
Section 316.01 — Mode Of Prosecution.
Section 316.02 — Mandatory And Restraining Orders.
Section 316.03 — Power Of Court Over Corporation Officers.
Section 316.04 — Appeal, Effect.
Section 316.05 — Sequestration; Receiver; Distribution.
Section 316.06 — Forfeiture Of Rights; Dissolution.
Section 316.07 — Dissolution On Petition Of Corporation.
Section 316.08 — Hearing; Notice.
Section 316.09 — Certified Copy Of Order Filed.
Section 316.10 — State Interested, Proceedings.
Section 316.11 — Receiver, Appointment, Duties.
Section 316.12 — Insolvent Banks And Insurance Companies.
Section 316.13 — Forfeiture Of Charter; Receiver; Suit By Creditor.
Section 316.14 — Unpaid Stock Subscription.
Section 316.15 — Order Limiting Time To Present Claims; Extension.
Section 316.16 — Notice Of Hearing.
Section 316.17 — Enforcement Of Stockholders' Liability; Hearing; Notice Of.
Section 316.18 — Hearing; Evidence; Order For Assessment.
Section 316.19 — Enforcement Of Stockholders' Liability; Hearing; Order.
Section 316.20 — Action For Assessments.
Section 316.21 — Additional Assessments, How Levied; Joinder Of Causes.
Section 316.22 — Proceedings On Failure Of Assignee Or Receiver To Prosecute.