(a) If there is no stock entitled to be voted on the dissolution either outstanding or subscribed for, the dissolution shall be approved as provided in this section.
(b) If the action is taken before the organization meeting of the board of directors, the dissolution shall be approved by resolution of a majority of the incorporators.
(c) If the action is taken after the organization meeting of the board of directors, the dissolution shall be approved by resolution of a majority of the entire board of directors.
Structure Maryland Statutes
Title 3 - Corporations in General -- Extraordinary Actions
Section 3-402 - Approval of Voluntary Dissolution -- No Stock Outstanding or Subscribed For
Section 3-403 - Approval of Voluntary Dissolution -- Stock Outstanding or Subscribed For
Section 3-404 - Notice to Creditors and Employees of Voluntary Dissolution
Section 3-405 - Abandonment or Rescission of Voluntary Dissolution
Section 3-406 - Articles of Dissolution
Section 3-407 - Filing Articles With Department; Payment of Taxes
Section 3-408 - Time Voluntary Dissolution Effective
Section 3-410 - Powers of Directors in Voluntary Dissolution
Section 3-411 - Appointment of Receiver in Voluntary Dissolution
Section 3-412 - Distributions to Stockholders in Voluntary Dissolution
Section 3-413 - Grounds for Petition by Stockholders or Creditors for Involuntary Dissolution
Section 3-414 - Appointment of Receiver in Involuntary Dissolution -- in General
Section 3-415 - Appointment of Receiver in Involuntary Dissolution -- Insolvency
Section 3-416 - Appointment of Officer, Director, or Stockholder as Receiver
Section 3-417 - Certification of Involuntary Dissolution to Department; Notice to Tax Collectors
Section 3-418 - Powers of Receiver in Voluntary and Involuntary Dissolution