MARVIN MANDEL, Governor

1661

INTEREST AND PENALTIES DUE ON THEM; OR

(2) TO COMPEL THE FILING OF ANNUAL REPORTS.

REVISOR'S NOTE: This section presently appears as
Art. 81, §204(d).

The only changes are in style.

3-508. PROCEDURE FOR REVIVAL OF FORFEITED CHARTER.

(A)       IN GENERAL.

THE CHARTER OF ANY CORPORATION WHICH IS FORFEITED
FOR NONPAYMENT OF TAXES OR FAILURE TO FILE AN ANNUAL
REPORT MAY BE REVIVED IN THE MANNER PROVIDED IN THIS
SECTION.

(B)   EXECUTION OF ARTICLES.

(1)      THE LAST ACTING PRESIDENT OR
VICE-PRESIDENT AND SECRETARY OR TREASURER OF THE
CORPORATION SHALL SIGN AND ACKNOWLEDGE ARTICLES OF
REVIVAL AND FILE THEM FOR RECORD WITH THE DEPARTMENT.

(2)   IF THE OFFICERS AUTHORIZED TO SIGN AND
ACKNOWLEDGE THE ARTICLES OF REVIVAL ARE UNABLE OF
UNWILLING TO DO SO, ANY THREE OF THE LAST ACTING
DIRECTORS OF THE CORPORATION MAY SIGN AND ACKNOWLEDGE
THEM.

(3)   IF THERE ARE LESS THAN THREE DIRECTORS OF
THE CORPORATION ABLE AND WILLING TO SIGN AND ACKNOWLEDGE
THE ARTICLES:

(I)    ANY DIRECTOR OR STOCKHOLDER RAT CALL A
MEETING OF THE STOCKHOLDERS BY GIVING NOTICE IN THE
MANNER REQUIRED BY TITLE 2 OF THIS ARTICLE, STATING THE
PURPOSE OF THE MEETING; AND

(II)   THE STOCKHOLDERS OR THEIR SUCCESSORS IN
INTEREST PRESENT AT THE MEETING IN PERSON OR BY PROXY,
WHETHER OR NOT SUFFICIENT TO CONSTITUTE A QUORUM, MAY
ELECT A BOARD OF AT LEAST THREE DIRECTORS WHO MAY SIGN
AND ACKNOWLEDGE THE ARTICLES AND DO ALL ACTS NECESSARY
AND PROPER TO REVIVE THE CHARTER OF THE CORPORATION.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 23,
§85 (a) and (a)(1) and (2). The provisions
setting forth the contents of articles of
revival appear in §3—509.

For an alternative to acknowledgment, see