698 CORPORATIONS. [ART. 23

them by section 72 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.

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.

1888, art. 23, sec. 272. 1868, ch. 471, sec. 193.

385. 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 stockholders the monies and other property
that shall remain after the payment of the debts and necessary
expenses; and the said trustees shall be jointly and severally
responsible to the creditors and stockholders of such corpora-
tion to the extent of its property and effects that shall come
into their hands.

Ibid. sec. 273. 1868, ch. 471, sec. 194.

386. The dissolution 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 discretion and under the direction of
the court in which the suit shall be pending, be substituted as
plaintiffs, subject to such order as the court may deem expe-
dient in relation to the payment or security of costs.

Frank v. Morrison, 58 Md. 440.

Ibid. sec. 274. 1868, ch. 471, sec. 195.

387. Whenever a receiver of the property or effects of a
corporation shall be appointed before the dissolution or after-