New Jersey § 17:12b-181

§ 17:12b-181.

The commissioner may institute an action in the Superior Court to restrain the State

association from transacting further business, or from transferring or disposing of

any of its property in any manner, or from paying excessive expenses of management,

or for the removal of any attorney, conveyancer, officer, director, employee or agent

of the State association, or for such other relief as the case may require. The court may proceed in the action in a summary manner or otherwise and may make

such orders or enter such judgments as shall be equitable and just. In such an action the court may enter a temporary restraining order or preliminary

injunction without notice to the association. Without limiting the generality of its powers, the court may, upon application by

the commissioner, appoint a receiver, with power to take possession, manage and dispose

of all of the association's real and personal property, books and records and to hold

and dispose of the proceeds thereof, as the court shall direct.