966

LAWS OF MARYLAND.

Sales void.

tions or conveyances of any part of the assets of
the corporation, made after the filing of a bill for
a dissolution thereof, under the provisions of this
Article, and all judgments confessed by said cor-
poration, after that time shall be absolutely void
as against the said receivers.

Liability of
stockholders.

Sec. 192. And be it enacted, That no dissolution
of any corporation shall relieve its stockholders
from the obligations and liabilities imposed on
them by the fifty-ninth 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 stockholders 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.

Trustees tc
settle.

Sec. 193. And bt it enacted. That upon the dis-
solution, in any manner not otherwise provided
for, of any corporation created or to be created un-
der 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 stock-
holders the moneys and other property that shall
remain after the payment of the debts and neces-
sary expenses, and the said trustees shall be jointly
and severally responsible to the creditors and stock-
holders of such corporation, to the extent of its
property and effects that shall come into their
hands.

Suits con
tinued.

Sec. 194. And be it enacted, That the dissolu-
tion of a corporation by the decree of a competent
court, shall not abate any suit or proceeding in
favor of such corporation which shall have been
pending at the time of such dissolution ; but all
such suits or proceedings may be continued by the
receivers, who shall have been appointed for such
corporation, or by the Trustees on whom the estate
and effects of such corporation shall have devolved,
in the name of such corporation, or in the names
of such receivers or Trustees, who may, in the dis-