New Jersey Statutes Title 14A. Corporations, General 14A § 14-2

(1) A receivership action may be brought in the Superior Court by

(2) The action shall be based upon at least one of the following grounds:

(3) The court may proceed in the action in a summary manner or otherwise.  It shall have power to appoint and remove one or more receivers of the corporation from time to time, and to enjoin the corporation, its officers and agents, from exercising any of its privileges and franchises, and from collecting or receiving any debts, or paying out, selling, assigning or transferring any of its property, except to a receiver, and except as the court may otherwise order.  The court shall have such further powers as shall be appropriate for the fulfillment of the purposes of this chapter.

(4) Every receiver shall, before assuming his duties, execute and file a bond in the office of the Clerk of the Superior Court, with such sureties and in such form as the court shall approve.