1658

LAWS OF MARYLAND

[Ch. 311

GOVERNOR, THE COMPTROLLER SHALL MAIL TO EACH LISTED
CORPORATION, AT ITS ADDRESS AS IT APPEARS ON HIS RECORDS,
A NOTICE THAT ITS CHARTER WILL BE REPEALED, ANNULLED, AND
FORFEITED UNLESS ALL TAXES, INTEREST, AID PENALTIES DUE
BY IT ARE PAID.

(3)        THE MAILING OF THE NOTICE IS SUFFICIENT,

AND THE FAILURE OF ANY CORPORATION TO RECEIVE THE NOTICE
MAILED TO IT DOES NOT AFFECT THE REPEAL, ANNULMENT, AND
FORFEITURE OF ITS CHARTER.

(B)   DUTY OF DEPARTMENT.

IMMEDIATELY AFTER SEPTEMBER 30 OF EACH YEAR, THE
DEPARTMENT SHALL CERTIFY TO THE GOVERNOR A LIST OF EVERY
MARYLAND CORPORATION WHICH HAS NOT FILED AN ANNUAL REPORT
WITH THE DEPARTMENT AS REQUIRED BY LAW OR HAS NOT PAID
FRANCHISE OR GROSS RECEIPTS TAXES BEFORE OCTOBER 1 OF THE
YEAR AFTER THE REPORT WAS REQUIRED TO BE FILED OR THE
TAXES WERE DUE.

(C)   DUTY OF GOVERNOR.

WHEN HE RECEIVES THE LISTS, THE GOVERNOR SHALL ISSUE
A PROCLAMATION DECLARING THAT THE CHARTERS OF THE
CORPORATIONS ARE REPEALED, ANNULLED, AND FORFEITED, AND
THE POWERS CONFERRED BY LAW ON THE CORPORATIONS ARE
INOPERATIVE, NULL, AND VOID AS OF THE DATE OF THE FIRST
PUBLICATION OF THE PROCLAMATION, WITHOUT PROCEEDINGS OF
ANY KIND EITHER AT LAW OR IN EQUITY.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first
sentence of Art. 81, §204(a). The remainder of
that section appears in §3—504.

Subsections (a) (2) and (3) of this section
presently appear as the last sentence of Art.
81, §204(b).

The phrase "before October 1" is substituted
for "for a space of nine months from the first
day of January" for purposes of clarity.

The only other changes are in style.

Although the majority of the law dealing with
corporate taxation will appear in the Revenue
and Taxation Article, this section is
peculiarly corporate in its effect. It deals
with one of the more serious consequences of
nonpayment of taxes by a corporation. Since
the material dealing with revival of charters
forfeited under this section appears in this