Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 221.48 - Termination of proceedings(a) When all assets justifying the expense of collection and distribution have been collected and distributed under this article, the liquidator shall apply to the court for discharge. The court may grant the discharge, and make any other orders deemed appropriate, including an order to transfer any remaining funds that are uneconomic to distribute as may be deemed appropriate.(b) Any other person may apply to the court at any time for an order under subsection (a). If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney's fee.1921, May 17, P.L. 789, art. V, § 548, added 1977, Dec. 14, P.L. 280, No. 92, § 2, imd. effective.