SPIRO T. AGNEW, Governor                      1327

(c) The Department shall not receive for record articles of dis-
solution of any corporation of this State unless, (1) all taxes due and
payable by the corporation to the Department, including taxes billed
at the current rate pursuant to Section 49 A of Article 81, have been
paid [,] or provided for in a manner satisfactory to the Department,
except taxes barred by Section 212 of Article 81 or otherwise, and
(2) such articles of dissolution are accompanied by certificates of
the Comptroller of the Treasury and every collector of taxes in the
list supplied by the Department as hereinafter provided, stating in
effect that all taxes levied on assessments made by the Department
and billed by and payable to such collecting authorities by the cor-
poration have been paid, [,] or provided for in a manner satisfactory
to the Comptroller of the Treasury and such authorities, respectively,
except taxes barred by Section 212 of Article 81 or otherwise, but
including taxes billed for the year in which the dissolution is to be
effected. No collector of taxes shall certify as to the payment of taxes
until certified assessments of personal property following the next
preceding date of finality have been received from the Department
and personal property taxes have been billed at the current years'
rate pursuant to Section 49A of Article 81 [.] , but a certificate
based on a satisfactory provision for payment as aforesaid may be
made prior thereto. Upon written request of the corporation, the
Department shall furnish the corporation, without charge, a list of
all collectors of taxes of counties and municipalities to which the
Department has within a period of four years certified any assess-
ment of personal property taxable to the corporation.

79. Application for Appointment of Receiver.

When any corporation of this State is voluntarily dissolved pur-
suant to this subtitle, any director, stockholder or creditor of the
corporation may petition [any] a court [having equity jurisdiction
in the county in which is located the principal office of the corpora-
tion in this State,] to take jurisdiction of the liquidation of the
corporation. After notice and hearing, the court may for cause
shown and within its sound judicial discretion, order that the cor-
poration be liquidated under its supervision either by the directors
as trustees or by one or more receivers appointed by the court. [The
court may appoint as receivers any persons it may select, including
any directors, officers and stockholders of the corporation.]

79A. Judicial Dissolution—Deadlocks; Illegal, Oppressive or
Fraudulent Acts.

(a)    The holders of shares entitled to not less than twenty-five
per cent of all the votes entitled to be cast for the election of directors
may petition a court of equity to dissolve the corporation, on one or
both of the following grounds:

(1)    That the directors are so divided respecting the management
of the corporation's affairs that the votes required for action by the
board cannot be obtained.

(2)    That the stockholders are so divided that the votes required
for the election of directors cannot be obtained.

(b)    Any holder of shares entitled to vote at an election of direc-
tors of a corporation may petition a court of equity to dissolve the
corporation on one or both of the following grounds: