Maryland Statutes
§ 3-516
Maryland § 3-516
This text of Maryland § 3-516 is published on Counsel Stack Legal Research, covering Maryland primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Md. Code Ann., Corporations and Associations § 3-516 (2026).
Text
(a)A director, stockholder, or creditor of a Maryland corporation which has had its charter forfeited 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 as trustees or by one or more receivers appointed by the court.
(c)The authority of the director-trustees terminates when a court appoints a receiver.
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Bluebook (online)
Maryland § 3-516, Counsel Stack Legal Research, https://law.counselstack.com/statute/md/3-516.