77-3-417 - Effect of receivership proceedings.
§ 77-3-417. Effect of receivership proceedings.
Receivership proceedings at any stage in any court shall not affect any proceedings under the terms of this article. When a petition is filed under the terms of this article, exclusive jurisdiction shall be vested in the public service commission, and any pending receivership shall immediately be terminated, and the trustees shall be appointed by the commission under the terms of Section 77-3-419.
Sources: Codes, 1942, § 7712; Laws, 1940, ch. 132.