ACT. 23. ] CORPORATIONS. 47

of trust or deed of trust in the nature of a mortgage; or if
there be a power of sale or a consent to a decree for a sale
contained in any mortgage, deed of trust or deed of trust in
the nature of a mortgage of real or personal property made by
such corporation, then (unless with the written consent of
the other parties in interest) the receiver of such corporation
shall be authorized to sell only the equity of redemption in the
property mentioned in such decree, mortgage, deed of trust or
deed of trust in the nature of a mortgage; and, unless such
consent be given such decree and the powers of sale contained
in such mortgage, deed of trust or deed of trust in the nature
of a mortgage may be executed as if proceedings against the
corporation had not been instituted.

Dissolution Otherwise Than by Judicial Proceedings.

SEC. 55. Upon the dissolution of any corporation of this State
in any manner otherwise than by judicial proceedings, and
until other persons shall be appointed as receivers by some
Court of competent jurisdiction, the directors at the time of
dissolution shall become and be trustees for the creditors,
stockholders and members of the corporation so dissolved.
They shall take title to its assets, real and personal, and shall
have full power to wind up and settle its affairs, to use for and
collect its assets and to pay its debts; and they shall divide
among the stockholders or members, the money and other prop-
erty that shall remain after the payment of the debts and
necessary expenses; and the said trustees shall be jointly and
severally liable to the creditors, stockholders and members of
such corporation to the extent of its property and effects that
shall come into their hands.

Effect of Dissolution.

SEC. 56. The dissolution of a corporation shall not relieve its
stockholders or directors or other officers from any obligations
and liabilities imposed on them by law; nor shall it abate any
pending suit or proceeding by or against the corporation, and
all such suits may be continued with such change of parties,
if any, as the court in which the same are pending shall direct.
No receiver shall institute suit except by order of the court
appointing him; and such suit may be brought in his own name
as receiver or (notwithstanding its dissolution) in the name of
the corporation, to his use.

Forfeiture of Charter.

SEC. 57. Whenever the Attorney General or any State's
Attorney shall be authorized by the Governor to institute pro-