§ 15-57. Receivership.

The county shall have the right to cancel a franchise 30 days after the appointment of a receiver or trustee, unless such receivership or trusteeship is vacated prior to the expiration of such 30 days, or unless:

(1)

Within 120 days or a mutually agreed date after his election or appointment, such receiver or trustee has fully complied with all the provisions of the franchise and remedied all defaults thereunder; and

(2)

Such receiver or trustee, within 120 days or a mutually agreed date, has executed an agreement, consented to by the county and duly approved by the appropriate court agreeing to be bound by the franchise.

(Code 1978, § 7-17)

(Code 1978, § 7-17)