MARVIN MANDEL, Governor

1663

CORPORATION OR WHICH WOULD HAVE BECOME DUE IF THE CHARTER
HAD NOT BEEN FORFEITED ARE PAID, WHETHER OR NOT BARRED BY
LIMITATIONS.

REVISOR'S NOTE: This section presently appears as
Art. 23, §85(a)(3).

The only changes are in style.

The language of item (2) of this section,
which has been revised without substantive
change, seems to indicate that all taxes
barred by limitations must be paid before
revival can be effected. It is believed,
however, that only those taxes not barred by
limitations at the time the charter was
forfeited are collectable. This view is
strengthened by a careful reading of present
Art. 23, §77 (§3-406) which provides that in
the case of a voluntary dissolution, taxes
which are barred at the time of the
dissolution are barred forever. Furthermore,
if the Department and Comptroller prepare
their lists properly, taxes should never be
more than two years overdue at the time the
charter is forfeited.

Reference to the filing fees charged by the
Department are omitted as unnecessary in light
of §1—201 of this article.

3-511. EVIDENTIARY EFFECT OF ACCEPTANCE.

EXCEPT IN A PROCEEDING BY THE STATE OR ANY OF ITS
POLITICAL SUBDIVISIONS, THE ACCEPTANCE OF ARTICLES OF
REVIVAL FOR RECORD BY THE DEPARTMENT IS CONCLUSIVE
EVIDENCE OF:

(1)     THE PAYMENT OF ALL FEES AND TAXES
REQUIRED TO BE PAID;

(2)   THE FILING OF ALL REPORTS REQUIRED TO BE
FILED; AND

(3)     THE REVIVAL OF THE CHARTER OF THE
CORPORATION.

REVISOR'S NOTE: This section presently appears as
Art. 23, §85(c).

The only changes are in style.

3-512.

MEETING OF STOCKHOLDERS AFTER REVIVAL.