1640

LAWS OF MARYLAND

[Ch. 311

(A)   PROCEDURE.

AT ANY TIMS BEFORE ARTICLES OF DISSOLUTION ARE
ACCEPTED FOR RECORD BY THE DEPARTMENT, THE CORPORATION
MAY ABANDON OR RESCIND THE DISSOLUTION BY FOLLOWING THE
SAME PROCEDURE REQUIRED FOR ITS APPROVAL.

(B)   NOTICE TO CREDITORS.

WITHIN 30 DAYS AFTER THE DATE OF THE ABANDONMENT OR
RESCISSION, THE CORPORATION SHALL MAIL NOTICE OF IT TO
EVERY CREDITOR TO WHOM NOTICE OF APPROVAL OF THE
DISSOLUTION WAS MAILED.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 23,
§76(d).

The provision of present §76 (d) which permits
abandonment prior to "filing" of the articles
is changed to permit abandonment before they
are "accepted for record." This provides a
more specific cut—off point and conforms with
similar sections in this article. As a
practical matter, the two times are likely to
be almost the same. A difference could arise,
however, if the Department refused to accept
articles for any reason; e.g., they were
improperly drafted or the required fee was not
paid.

For the definitions of "mail," see §1—101.

3-406. ARTICLES OF DISSOLUTION.

(A) CONTENTS.

IN THE CASE OF VOLUNTARY DISSOLUTION, THE ARTICLES
OF DISSOLUTION SHALL INCLUDE:

(1)   THE NAME OF THE CORPORATION AND THE
ADDRESS OF ITS PRINCIPAL OFFICE;

(2)    THE NAME AND ADDRESS OF A RESIDENT AGENT
OF THE CORPORATION WHO SHALL SERVE FOR ONE YEAR AFTER
DISSOLUTION AND UNTIL THE AFFAIRS OF THE CORPORATION ARE
WOUND UP;

(3)   THE NAME AND ADDRESS OF EACH DIRECTOR OF
THE CORPORATION;

(4)    THE NAME, TITLE, AND ADDRESS OF EACH
OFFICER OF THE CORPORATION;