2010 Maryland Code
CORPORATIONS AND ASSOCIATIONS
TITLE 3 - CORPORATIONS IN GENERAL - EXTRAORDINARY ACTIONS
Subtitle 4 - Dissolution
Section 3-408 - Time voluntary dissolution effective.
§ 3-408. Time voluntary dissolution effective.
(a) Effective on acceptance of articles.- Except as provided in subsection (b) of this section, the corporation is dissolved when the Department accepts its articles of dissolution for record.
(b) Winding up.- 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.
[An. Code 1957, art. 23, § 76; 1975, ch. 311, § 2.]
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