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Session Laws, 1908 Session
Volume 483, Page 48   View pdf image (33K)
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48 LAWS OK MARYLAND.

ceedings against a corporation to determine whether it has
been guilty of such misuse, abuse or nonuse of its powers and
franchises as would by law make proper the forfeiture of its
charter, the Attorney General or State's Attorney so author-
ized shall file in the court hereinafter designated a petition
in the name of the State setting forth in detail the alleged
cause of forfeiture; and thereupon the court shall lay a rule
upon the corporation to show cause within a time named why
a judgment of forfeiture should not be entered as prayed; a
copy of such rule and of the petition shall be served on the
corporation by a day to be therein limited, as other process
against the corporation, as hereinafter provided, would be
served. By the day named in said order unless further time is
granted by the court, the corporation shall file its answer,
setting forth all its defences and verified by the affirmation
or affidavit of one of its officers; such further pleadings, if any,
shall be filed within such time as the court shall direct.

SEC. 58. If issues of fact be joined in such proceedings, the
same shall stand for trial at such time as the court shall
direct and shall be tried by a jury if either party desires it;
otherwise they shall be heard and determined by the court.
If from the findings of the jury or upon consideration or deter-
mination by the court, the court shall be of opinion that legal
cause of forfeiture has been shown, and that the public interest
requires that a forfeiture should be declared, a judgment of
forfeiture shall be entered and the charter of the corporation
shall thereby be annulled and vacated; and it shall be ousted
of its corporate franchises; and the court shall thereupon
appoint a receiver or receivers of the corporate estate and
assets. The powers of such receivers and all the consequences
of dissolution shall be such as are hereinabove conferred and
provided by this article.

SEC. 59. If the corporation shall neglect to plead within the
times appointed and provided, the court shall proceed to hear
the petition ex parte; and if a cause of forfeiture is shown, a
judgment shall be entered as is provided in the preceding sec-
tion.

SEC. 60. If the court upon a hearing, ex parte or otherwise
shall be of opinion that legal cause of forfeiture has been
shown, it may, nevertheless, in its discretion, before passing a
final judgment, require the corporation within a time fixed
to remedy the grievance complained of and may suspend the
entry of a final judgment until the time so fixed, and may
afterwards refuse to enter such judgment if the grievance has
been remedied.

 

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Session Laws, 1908 Session
Volume 483, Page 48   View pdf image (33K)
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