826 ARTICLE 23

Allegations of insolvency held to be insufficient to bring the case within sec. 376 of
the Code of 1904, nor was there sufficient proof of insolvency. Mason v. Equitable
League, 77 Md. 484 (decided in 1893).

A bill of complaint filed by a statutory receiver to set aside a fraudulent assignment
or preference by an insolvent corporation, and for a discovery and account, upheld
under secs. 376 and 377 of the Code of 1904. Parties. Multifariousness. Whitman v.
United Surety Co., 110 Md. 422.

The provisions of sec. 239 of art. 23, An. Code 1912 (relative to fraternal orders—see
art. 48A, sec. 180, et seq.), held not to be intended to supersede the right to commence
proceedings against insolvent corporations under sec. 376 of the Code of 1904. Barton v.
International Fraternal Alliance, 85 Md. 33.

The national bankrupt act held not to interfere with the action of the court under
sec. 376 of the Code of 1904, especially when no proceedings in bankruptcy had been
instituted against the corporation. Murphy v. Penniman, 105 Md. 469. Cj. In re Storck
Lumber Co., 114 Fed. 360.

An attempt to wind up a corporation by a deed of trust condemned as not being in
accordance with the mode pointed out by sec. 376, et seq., of the Code of 1904. Du Puy
v. Terminal Co., 82 Md. 43B. And see Davis v. United States, etc., Co., 77 Md. 40.

A receiver held to be entitled to sue in his own name independently of secs. 376 and
378 to 387 of the Code of 1904. Frank v. Morrison, 58 Md. 440.

For a bill of complaint filed under secs. 376 and 377 of the Code of 1904, see Union
Trust Company v. Belvedere Co., 105 Md. 514.

This section referred to in construing sec. 377 of the Code of 1904—see notes to sec.
99. Mowen v. Nitsch, 103 Md. 687; Colton v. Drovers' Bldg. Assn., 90 Md. 93.

Sec. 376 of the Code of 1904 cited but not construed in Tucker v. Osbourn, 101 Md.
616; Tompkins v. Sperry, etc., Co., 96 Md. 575.

Generally.

The act of 1894, ch. 263, did not change the relations of shareholders to the corporation
of which they were members, nor establish any new rule relative to the proof of the
insolvency of a corporation. Insolvency not made out. Steinberger v. Independent
Savings Assn., 84 Md. 635.

Equity court in Baltimore City has no jurisdiction to wind up and dissolve a cor-
poration doing business and having its principal office in Garrett County. Davis v.
Gemmell, 73 Md. 535. (And see dissenting opinion, page 557.)

This section referred to in construing sec. 99—see notes thereto. Hughes v. Hall, 118
Md. 678.

Sec. 264 (art. 23) of the Code of 1888, cited but not construed in Blackstone v. State,
117 Md. 238.

Cited but not construed in Preston v. Poe, 116 Md. 5.

See notes to sec. 99...

Solvency does not require the' holding of sufficient assets in immediately available
cash to pay obligations. Kraft v. Building Assn., 165 Md. 570.

Dissolution of corporation by state court decree prior to filing of petition in bank-
ruptcy held not to deprive bankruptcy court of jurisdiction. Lyon Realty Co. v. Milburn
Realty Co., 56 Fed. (2nd), 187; Hammond v. Lyon Realty Co., 59 Fed. (2nd), 592...

Cited but not construed in separate opinion in Hammond v. Lyon Realty Co., 163
Md. 464.

This section referred to in construing art. 11, sec. 97. See notes thereto. Robinson
v. Hospelhorn, 169 Md. 130.

Cited in Distilleries, Inc. v. Sherwood Co., 173 Md. 178; Pritchard v. Myers, 174
Md. 76.

An. Code, 1924, sec. 93. 1920, ch. 236. 1937, ch. 198. 1939, ch. 760.

98. (a) No corporation shall be dissolved by decree of any court of
this State unless there shall have been filed in such court a certificate of
counsel of record that notice that dissolution of the corporation by decree
of such court was proposed had been mailed by registered mail to the
Comptroller of the Treasury twenty days or more before the entry of
such decree.

(b) No articles of dissolution of any corporation of this State shall be
received for record by the State Tax Commission unless there shall be
attached thereto a certificate of the Comptroller of the Treasury that all
taxes assessed by the State Tax Commission and certified to the Comp-
troller for collection (including taxes for the year in which the dissolu-
tion is to be effected) have been paid.