THEODORE R. MCKELDIN, GOVERNOR 335

the corporation by filing a petition for forfeiture of the char-
ter and dissolution of the corporation in any court of equity
in the county in which is located the principal office of the
corporation in this State. The petition shall set forth the
facts upon which the forfeiture of the charter and dissolu-
tion of the corporation is sought.

(c) Any proceedings so instituted shall stand for hearing
or other disposition in accordance with the practice of courts
of equity in this State; and upon the petition, if there is de-
fault in the filing of an answer, or upon the petition and
answer or upon the petition, answer and testimony, if testi-
mony is taken, the court shall enter its decree either (1)
finding that no legal cause of forfeiture exists, and dismiss-
ing the petition, or (2) directing the corporation to remedy
one or more grievances, on penalty of forfeiture of the charter
if the same is not remedied within a time fixed in such decree,
or (3) finding that legal cause of forfeiture has been shown
and the public interest requires that a forfeiture should be
declared, and declaring the charter forfeited and the corpo-
ration thereby dissolved, and appointing one or more re-
ceivers of the property and assets of the corporation.

81. (Revival of Charter. ) (a) The charter of any corpora-
tion of this State, heretofore or hereafter forfeited for the
non-payment of taxes or for failure to file an annual report
with the Commission may, at any time, be revived in the
following manner:

(1) The last acting president or vice-president and secre-
tary or treasurer of the corporation shall sign and acknowl-
edge and deliver to the Commission articles of revival in
which shall be stated:

(i) The name of the corporation at the time of the forfei-
ture of its charter.

(ii) The name by which the corporation will thereafter
be known, which name shall be such as could be used by a
corporation of this State at the time of the acceptance for
record of the articles of revival.

(iii) The post office address of the principal office of the
corporation in this State, which shall be in the same county
in which the principal office of the corporation was located
at the time of the forfeiture of its charter, and the. name and
post office address of the resident agent or resident agents
of the corporation in this State.

(iv) The articles of revival are for the purpose of reinstat-
ing the charter of the corporation.