Statute · New York Business Corporation Law
N.Y. Bus. Corp. Law § 1116 — Discontinuance of action or special proceeding
N.Y. Bus. Corp. Law § 1116
- Type
- Statute
- Source
- New York Business Corporation Law
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
§ 1116. Discontinuance of action or special proceeding.
Citator
N.Y. Bus. Corp. Law § 1116 — Discontinuance of action or special proceeding is in force in the current edition of the Code, and nothing recorded condemns it.
§ 1116. Discontinuance of action or special proceeding.
An action or special proceeding for the dissolution of a corporation may be discontinued at any stage when it is established that the cause for dissolution did not exist or no longer exists. In such event, the court shall dismiss the action or special proceeding and direct any receiver to redeliver to the corporation all its remaining property.