390 CORPORATIONS—DISSOLUTION. [ART. 23.

of any corporation, they shall be vested with all the estate and
assets of every kind belonging to such corporation, from the time;
of their qualifying as receivers, and shall be trustees thereof for
the benefit of the creditors of such corporation and its stock-
holders; and they shall proceed to wind up the affairs of such
corporation, 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.
Prank v. Morrison, 58 Md. 440. Gaither v. Stockbridge, 67 Md. 237.

1868, ch. 471, sec. 191.

270. All sales, assignments, transfers, mortgages or other dis-
positions or conveyances of any part of the assets of the corpora-
tion, made after the filing of a bill for a dissolution thereof,
under the provisions of this article; and all judgments confessed,
by said corporation, after that time, shall be absolutely void as.
against the said receivers.

Frank v. Morrison, 58 Md. 440

Ibid. sec. 192.

271. No dissolution of any corporation shall relieve its stock-
holders from the obligations and liabilities imposed on them by
section 64 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 some had not been dissolved

Hall v. U S. Ins Co., 5 Gill, 484. Stillman v Dougherty, 44 Md. 380.
Frank v. Morrison, 58 Md. 440. Glenn v. Williams, 60 Md. 93.

Ibid. sec. 193.

272. Upon the dissolution, in any manner not otherwise
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