Such court shall thereupon notify the officers of such association of a hearing, and unless it shall then appear that some special and good reason exists why such association should not be closed, said association shall be enjoined from carrying on any further business, and some person shall be appointed receiver of such association and shall proceed at once to take possession of the books, papers, moneys, and other assets of the association and shall forthwith, under the direction of the court proceed to close the affairs of the association and to distribute its funds to those entitled thereto, or the receiver may make an assessment pro rata on the membership liable to an assessment to pay the legitimate debts of the association.
[C97, § 1766; S13, § 1759-g; C24, 27, 31, 35, 39, § 9053; C46, 50, 54, 58, 62, § 518.28; C66, 71, 73, 75, 77, 79, 81, § 518A.28]
Referred to in § 519.11
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