ACT. 23. ] CORPORATIONS. 45

made by any corporation to any stockholder or director therein
and if any such loan shall be made, the officer or officers or
directors who shall make it or assent thereto shall be jointly
and severally liable for all the debts of said corporation to the
extent of the loss that may result from such loan; but this
paragraph second shall not apply to any building or home-
stead association, or any corporation whose principal business
under its charter is to loan money on real or personal property,
or to any corporation receiving and authorized to receive money
on deposit or to any life insurance company lending money to
any of its policy holders on their policies. Third: In the event
of the insolvency of the corporation, the liability of the direc-
tors and officers under this Section 50 shall be collectible by
the receiver or other person winding up its affairs, as an asset
of said corporation.

DISSOLUTION.
Voluntary Dissolution.

SEC. 51. Every corporation of this State other than a public
service corporation, may by the affirmative vote of a majority
of all of its members or of a majority of all of its stock (or if
two or more classes of stock have been issued, of a majority of
each class) outstanding and entitled to vote, close its affairs
and authorize a bill for its dissolution to be filed in the manner
hereinafter set forth. The meeting for such purpose shall be
duly warned according to the provisions of Sections 15 or 16
of this Article; and if at such meeting the said majority shall
so decide, a petition for dissolution shall be forthwith filed in
the name of the corporation, and on its behalf in a court of
equity of the county or city in which its principal office is
located.

Procedure.

SEC. 52. Every such petition shall contain a statement of the
reasons why the dissolution of the corporation is sought, and
there shall be filed as an exhibit with it: a full and true inven-
tory of its assets and liabilities; a list of all the stockholders,
if any, their respective addresses, the number of shares belong-
ing to each and the amount, if any, remaining due thereon;
a full statement of all the incumbrances on the property of the
corporation, and a full list of its creditors, with their respec-
tive addresses and the amounts due each. Such exhibit shall
be verified by the oath or affirmation of some officer or stock-
holder of the corporation, and upon the filing of such petition
accompanied by the exhibit, the court shall pass an order
requiring all persons interested in the corporation to show