MHHS · Business Corporations Act
Part 17 — Liquidation and Dissolution
223 Powers of liquidator
(a) retain lawyers, accountants , engineers, appraisers and other
professional advisors,
(b) bring, defend or take par t in any civil, criminal or
administrative action or proceeding in the name and on
behalf of the corporation,
(c) carry on the business of the corporation as required for a n
orderly liquidation,
(d) sell property of the corporation publicly or privately,
(e) do all acts and execute any documents in the name and on
behalf of the corporation,
RSA 2000
(f) borrow money on the secu rity of the property of the
corporation,
(g) settle or compromise any claims by or against the
corporation, and
(h) do all other things for the liquidation of the corporation and
distribution of its property.
(2) A liquidator is not liable if the liquidator relies in good faith on
(a) financial statements of the corporation represented to the
liquidator by an officer of the corporation or in a written
report of the auditor of the corporation to reflect fairly the
financial condition of the corporation, or
(b) an opinion, a report or a statement of a lawyer, accountan t,
engineer, appraiser or other professional advisor retained by
the liquidator.
(3) If a liquidator has reason to believe that any person has in the
person's possession or under the person's control, or has concealed,
withheld or misappropriated any property of the corporation, the
liquidator may apply to the Court for an order requiring that person
to appear before the Court at the time and place designated in the
order and to be questioned.
(4) If the questioning referred to in subsection (3) discloses that a
person has in the person's possession or under the person's control
or has concealed, withheld or misappropriated property of the
corporation, the Court may order that person to restore it or pay
compensation to the liquidator.
RSA 2000 cB-9 s223;2009 c53 s30