Md. Code Ann., Corps. & Ass'ns § 3-408
Effective date of voluntary dissolution
Effective Oct 1, 2022Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 2022, c. 292, § 1, eff. Oct. 1, 2022; Acts 2022, c. 293, § 1, eff. Oct. 1, 2022.State of Maryland
(a) Except as provided in subsection (b) of this section, the corporation is dissolved on the later of:
- (1) The time the Department accepts the articles of dissolution for record; or
- (2) The time established under the articles, not to exceed 30 days after the articles are accepted 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.
Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 2022, c. 292, § 1, eff. Oct. 1, 2022; Acts 2022, c. 293, § 1, eff. Oct. 1, 2022.
Formerly Art. 23, § 76.