332 LAWS OF MARYLAND [CH. 135

a railroad, may petition any court having equity jurisdiction
in the county in which is located the principal office of the
corporation in this State, to dissolve the corporation. If the
corporation has been determined by judicial proceedings, or
is proved to be, insolvent, the court may, for cause shown and
within its sound judicial discretion, declare the corporation
dissolved and, thereupon, the court shall appoint one or more
receivers to liquidate the corporation under the supervision
of the court. The court may appoint as receivers any persons
it may select, including any directors, officers and stockholders
of the corporation.

(b) Every decree of any court declaring a corporation of
this State dissolved shall contain a direction to the clerk of
such court to certify forthwith to the Commission that such
decree has been passed; and if such decree is later annulled,
the decree of annulment shall contain a like direction.

(c) No corporation of this State shall be dissolved by decree
of any court of this State, unless counsel of record has filed
in such court a certificate that, twenty days or more before
the entry of such decree, notice that entry of such decree would
be requested was mailed by registered mail to the Comptroller
of the Treasury, the Commission and the collector of taxes of
every county and municipality to which the Commission had
certified any assessment of personal property taxable to such
corporation for any years for which the collection of taxes
thereon was not barred by Section 160 of Article 81 or other-
wise, as shown by a list of such collectors signed and dated by
the Commission not more than ninety days before the entry
of such decree, and appended to such certificate of counsel.
The Commission shall furnish such a list to such counsel,
without charge, on receipt by the Commission of notice from
such counsel that the entry of such decree will be requested.

77. (Powers of Receiver. ) (a) The receiver of any cor-
poration of this State appointed by a court pursuant to this
Article, whether the dissolution of the corporation is volun-
tary or involuntary, shall be vested with full title to all the
property and assets of the corporation and with full power to
enforce obligations or liabilities in favor of the corporation;
lie shall proceed to liquidate the assets of the corporation and
close its affairs under the supervision of the court and shall
have all powers necessary for that purpose.

(b) All preferences, payments and transfers made by the
corporation, which would be void or fraudulent under the
provisions of the insolvency laws of this State if made by a
natural person, or under the acts of the Congress of the United
States relating to bankruptcy, shall to like extent be fraudu-