There is a newer version of the Maryland Code
Maryland Corporations and Associations Section 3-411
§ 3-411.
  (a)   A director, stockholder, or creditor of a Maryland corporation which is dissolving voluntarily may petition a court of equity to take jurisdiction of the liquidation of the corporation.
  (b)   After notice and hearing, the court for good cause shown may order the corporation liquidated under court supervision either by the directors or by one or more receivers appointed by the court.
  (c)   The authority of the directors terminates when a court appoints a receiver.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.