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Session Laws, 1916
Volume 534, Page 1230   View pdf image (33K)
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LAWS OF MARYLAND. [CH. 596

76. Any corporation of this State may close its affairs and
authorize a bill for its dissolution to be filed in the following
manner:

A majority of the whole board of directors shall pass a reso-
lution declaring that dissolution is advisable and calling a meet-
ing of the stockholders or members to take action thereon. The
meeting of the stockholders or members shall be duly warned in
the manner provided in Section 15 of this Article. If two-thirds
of all the shares (or, if two or more classes of shares have been
issued, two-thirds of each class), outstanding and entitled to
vote, or two-thirds of the members vote in favor of dissolution,
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. Whenever
all of the stockholders or members shall consent in writing to
a dissolution, no meeting of stockholders or members or notice
thereof shall be necessary.

SEC. 13. And be it further enacted, That a new and addi-
tional Section be and the same is hereby added to Article 23
of the Annotated Code of Maryland to be known as Section 77A
and to follow Section 77 thereof, said new and additional Sec-
tion to read as follows:

77A. Upon the making of any decree dissolving a corpora-
tion, the Clerk of the Court making such decree shall forthwith
certify to the State Tax Commission that such decree has been
made, and in case such decree should be annulled, the Clerk
of the Court shall forthwith so certify to the said State Tax
Commission.

SEC. 14. And be it further enacted, That Sections 87 and
88A of the Annotated Code of Maryland be and the same are
hereby repealed and re-enacted with amendments so as to read
as follows:

87. Process issued by any court or justice of the peace of
this State against any corporation thereof may be served on any
resident agent or director of the corporation or on its president,
or on any vice-president, secretary or assistant secretary, treas-
urer or assistant treasurer, and if none of the above reside in
this State such process may be served on any agent or other
person in the service of the corporation; provided, that in all
eases mentioned in this Section, the officer serving process shall
leave a copy thereof with the person upon whom it is served.
Every corporation of this State may be sued in any County or

 

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Session Laws, 1916
Volume 534, Page 1230   View pdf image (33K)
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