The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1868-06-26

any reason deem III Dcnenclal Tor the interest
Of the stockholders or others, interested in
the said corporation, that the same should be
dissolved, they shall call general meeting
of the stockholders, shareholders OF mem
bers of the corporation, at such time and
place, and after such notice as the bylaws of
said company shall prescribe for that pur-
pose and if at such general meeting, a ma
jority in interest of all the stockholders in any
corporation having capital stock, or a ma
jiority of the shareholders OF members in any
other class of corporations, shall by their
votes declare their wish that said corporation
shall be dissolved, a bill for its dissolution
shall forthwith be filed in the name of said
corporation, and on its behalf in the Circuit
Court of Baltimore city, if its principal Office
or place of business shall be in said city, or
in the Circuit Court of the county in which
its principal office or place of business may
Sec. 1877. And be it enacted, That every
such bill shall contain q statement of the rea-
sons why the dissolution of the said corpo-
ration is prayed for and sought, and there
shall also be filed with it:
list. A full and true inventory of all the as
sets of such corporation, and of all the books
securities and vouchers relating thereto.
2nd. A true account of the capital stock of
such corporation and list of all the stock.
tlCll iColNiChNep, anu thC uulliDCT w
shares belonging to each, the amount paid
on each of said shares, and the amount still
due.
3rd. A statement of all the membranes
on the property of the corporation, and
full list of all its creditors, and their respec-
tive residences, and the amount due to each;
all of the said statements shall be verified by
the oath or affirmation of either the Presf-
dent, Treasurer, Secretary or some other
chief officer, or of some stakeholder of the
said corporation.
Sec 1888. And be it enacted, That upon the
filing of said bill, accompanied by the afore-
said papers, the Court shall pass an order re-
curing all persons interested IN such corpo-
rations to show cause, if any they have, why
such corporation should not be dissolved on
or before certain day, to be named in said
order, which order shall be published for
such time as the court shall direct, in some
newspaper published in the county, or city
of Baltimore, as the case may be, in which
such court is held; and upon any answer be-
ing filed to the said bill by any creditors or
stockholders of such corporation, the court
may authorize evidence to be taken, on APP
plication of the complainants or defendants,
in the manner usual in Courts of Equity.
Sec 1S9. And be it enacted, That if the
court shall upon consideration of the bill, or
of the bill answers and proof if any answers
have been filed or proof taken, be of opinion
that the corporation is insolvent, or that for
any reason dissolution of the said corpora
ton will be beneficial to the stockholders and
not injurious to the public interests, o decree
shall be entered dissolving the said corpora
tion and appointing one or more receivers
of its estate and effects, and such corporation
shall thereupon be dissolved; any of the Di-
rectors, Trustees, Managers OF other officers,
or any of the stockholders of any corpora
ton, may be appointed its receivers, or such
other person or persons as the court may
select. .." -
Sec. 100. And be it enacted, That where
receivers of the estate or effects of any corpo-
ration shall be appointed by a court, upon or
before the dissolution of any corporation,
they shall be vested with all the estate and
assets OF every Kind belonging to such cor
poration from the time of their qualifying as
receivers, and shall be trustees thereof for
the benefit of the creditors of such corpora
ton and its stockholders, and they shall pro-
coed to wind up the affairs of said corpora
ton under the direction of the court by which
they shall have been appointed, and shall have
all powers which shall be necessary for that
purpose. '-'' H-.
Sec. 191. And be it enacted, That all sales,
assignments, transfers, mortgages or other
dispositions or conveyances OF any part of
the assets of the corporation, made after the
filing of bill for dissolution thereof, I'M
der the provisions of this article, and all judg.
ments confessed by said corporation, after
that time shall be absolutely void, as against
the said receivers. ... .-.-....
Sec. 1872. And be it enacted, that no disso-
luton of any corporation shall relieve its
stockholders from the obligations and liabili-
| ties imposed on them by the Goth section of
this article; and if the said corporation shall
be dissolved before its capital stock shall
have been paid in, the liability of its stock
holders shall continue to the receivers or to
the creditors of the corporation, who were
such prior to its dissolution, in all respects
as if the same had not been dissolved.
Sec. 1893. And be it enacted, That upon
the dissolution, in any manner not other
wise provided for, of any corporation created
or to be created under the laws of this State.
and unless other persons shall be appointed
by some Court of competent authority, the
Directors or managers of the affairs of such
corporation at the time of its dissolution, by
whatever name they may be known in law,
shall be the Trustees of the creditors and
stockholders of the corporation dissolved,
and shall have full power to settle the affairs
Of the corporation and to pay its debts, and
shall divide among the stockholders the
moneys and other property that shall remain
after the payment of the debts and necessary
expenses and the said Trustees shall be joint
, ly and severally responsible to the credistor
and stockholders of such corporation, to the
extent of its property and effects, that shall
, come into their hands. T-f .
Sec. 1914. And be it enacted, That the dis
solution Of corporation by decree of a
competent Court, shall not abate any suit OF
proceeding in favor of such corporation
, which shall have been pending at the time
of such dissolution; but all such suits or pro.
ceedings may be continued by the receivers
who shall have been appointed for such cor.
l poration or by the Trustees, on whom the
estate and effects of such corporation shall
have devolved in the name of such corpora.
ton, or in the names of such receivers OF
I trustees, who may in the discretion and un
der the direction of the Court in which the
2 suit shall be pending, be substituted as plain
tiffs, subject to such order as the court may
, deem expedient in relation to the payment
of security of COSTS ...,.
Sec. 1876. And be it enacted, That whcnev
t ever a receiver of the property or effects O.
: corporation shall be appointed before the
8 dissolution or afterwards, new suits may bt
brought and carried on by any such receiv
ers, either in their own names and capacities
as such receivers, or in the name of the cor
DOratiOn for which thew shall have heen an