46 LAWS OF MARYLAND.

cause by a day to be named, if any they have, why it should
not be dissolved on another day to be named in said order,
which said order shall be published, for such time as the
court, shall direct, in some newspaper published in the county
or city in which such court is held; if an answer shall be filed
to such petition, evidence shall be taken in the manner usual
in courts of equity; if no answer is filed, or if upon considera-
tion of the petition, answer and proof, the court shall be of
opinion that no sufficient cause against a dissolution has been
shown, a decree shall be entered dissolving the said corporation
and appointing one or more receivers of its estate and effects,
if any; and any of the directors or other officers or any of the
stockholders or members of the corporation may be appointed
its receivers or such other person or persons as the court may
select.

Involuntary Dissolution.

SEC. 53. Whenever any corporation of this State, other than
a railroad, shall have been determined by legal proceedings to
be insolvent or shall be proven to be insolvent by proof offered
under any bill filed under the provisions of this section, it may
be dissolved, after a hearing according to the practice of courts
of equity in this State, upon a bill for that purpose filed in a
court of equity of the county or city in which its principal
office is located. Such bill may be filed by any stockholder or
creditor of the corporation.

Powers of Receivers.

SEC. 54. Whenever any corporation shall be dissolved by the
decree of any Court of this State, its property shall vest in its
receivers appointed and named therein, and all preferences,
payments and transfers, howsoever made by it or by any of
its officers on its behalf, which would be void or fraudulent
under the provisions of the Insolvency Laws of this State,
if made by a natural person, shall to the like extent and with
like remedies be fraudulent and void; and for the purpose of
setting aside such preferences, payments and transfers, the
receiver of such corporation shall have all the powers vested
in the permanent trustee of an insolvent debtor and the date
of the filing of the petition or bill by or against such corpora-
tion shall, for the purpose of determining the validity of pref-
erences and for all other purposes, be treated as the date of the
filing of the petition in insolvency by or against a natural
person; provided, however, that if any real or personal prop-
erty of such corporation shall have been decreed to be sold by
any court of equity for the enforcement of a mortgage, deed