<div class="chunk-title">Sec. 25-67. - Receivership.</div>
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               Apart from and supplemental to the right to revoke a franchise, grantor shall have
               the right to cancel a franchise agreement 120 days after the appointment of a receiver
               or trustee to take over and conduct the business of a grantee, whether in receivership,
               reorganization, bankruptcy, or other action or proceeding, unless such receivership
               or trusteeship shall have been vacated prior to the expiration of said 120 days, or
               unless:
               
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                  (1)
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                  Within 120 days after its election or appointment, the receiver or trustee has fully
                  complied with all the provisions of grantee's franchise agreement and this chapter
                  and remedied all defaults thereunder; and
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                  (2)
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                  Such receiver or trustee, within said 120 days, has executed an agreement, duly approved
                  by a court having jurisdiction, whereby such receiver or trustee assumes and agrees
                  to be bound by each and every provision of this chapter and the applicable franchise
                  agreement.
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               (Ord. of 9-6-05, Â§ 1; Amend. of 10-3-05, Â§ 4)
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