Section 3-419 - Liability of stockholders, officers, and directors in voluntary or involuntary dissolution. - Maryland Statutes

§ 3-419. Liability of stockholders, officers, and directors in voluntary or involuntary dissolution.
 

(a)  Liability in general.- The voluntary or involuntary dissolution of a corporation does not relieve its stockholders, directors, or officers from any obligation or liability imposed on them by law. 

(b)  Defenses of stockholder.- At any time before final ratification of the auditor's account distributing the assets of the corporation among its creditors and stockholders, any stockholder of a corporation dissolved by the order of a court may plead on behalf of the corporation all defenses, including limitations or laches, in the same manner as could the corporation or its receiver. 
 

[An. Code 1957, art. 23, § 82; 1975, ch. 311, § 2.]