2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 57 - Officers, Directors and Members
5764 - Appointment of custodian of corporation on deadlock or other cause.

     § 5764.  Appointment of custodian of corporation on deadlock or
                other cause.
        (a)  General rule.--The court, upon application of any
     member, may appoint one or more persons to be custodians of and
     for any nonprofit corporation when it is made to appear:
            (1)  that at any meeting for the election of directors
        the members are so divided that they have failed to elect
        successors to directors whose terms have expired or would
        have expired upon the qualification of their successors; or
            (2)  that any of the conditions specified in section 5981
        (relating to proceedings upon petition of member, etc.)
        exists with respect to the corporation.
        (b)  Power and title of custodian.--A custodian appointed
     under this section shall have all the power and title of a
     receiver appointed under Subchapter G of Chapter 59 (relating to
     involuntary liquidation and dissolution), but the authority of
     the custodian shall be to continue the business of the
     corporation and not to liquidate its affairs and distribute its
     assets, except when the court shall otherwise order and except
     in cases arising under section 5981(1), (2) and (3) (relating to
     proceedings upon petition of member, etc.).
     (Dec. 21, 1988, P.L.1444, No.177, eff. Oct. 1, 1989)

        1988 Amendment.  Act 177 amended subsecs. (a)(2) and (b).
        Cross References.  Section 5764 is referred to in section
     6145 of this title.