On the dissolution of any corporation, either by judgment or otherwise, all its real and personal estate shall be vested in the stockholders therein, in their respective proportions, who shall hold the same as tenants in common; but this section shall not extend to any property except that which the corporation might lawfully have held without forfeiting the same to the state. Debts due to and from the corporation shall not be extinguished by its dissolution, but debts due from the corporation shall be a charge upon its property.
Structure Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 1 - General Provisions Relative to Corporations
§ 79-1-5. Execution of proxies by fiduciary without order or direction of court
§ 79-1-7. Defective organization not a defense
§ 79-1-9. Social, civil and political rights of employees protected
§ 79-1-11. May execute bond in suits
§ 79-1-13. Property and franchise of corporation salable under judgment
§ 79-1-15. Franchise redeemable within six months
§ 79-1-17. On dissolution, assets vested in stockholders