Maryland Corporations and Associations Section 3-408

      (a)      Except as provided in subsection (b) of this section, the corporation is dissolved when the Department accepts its articles of dissolution for record.

      (b)      The corporation continues to exist for the purpose of paying, satisfying, and discharging any existing debts or obligations, collecting and distributing its assets, and doing all other acts required to liquidate and wind up its business and affairs.