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<section article="gca" article_name="Corporations and Associations" number="3-414" title_number="3" title_name="Corporations in General -- Extraordinary Actions" subtitle_number="4" subtitle_name="Dissolution">
  <level label="a">
    <text>This section applies to any proceeding for involuntary dissolution of a corporation, except one brought under § 3-413(c) of this subtitle on grounds of insolvency.</text>
  </level>
  <level label="b">
    <text>In a proceeding for the involuntary dissolution of a corporation, after notice and hearing, the court:</text>
    <level label="1">
      <text>May appoint one or more temporary receivers or trustees to take charge of the assets and operate the business of the corporation, if necessary or proper to preserve them, pending a final determination as to dissolution; and</text>
    </level>
    <level label="2">
      <text>Shall determine whether the corporation should be dissolved.</text>
    </level>
  </level>
  <level label="c">
    <text>If it appears that the corporation should be dissolved, the court shall enter a final order dissolving the corporation, and direct that it be liquidated under court supervision by one or more receivers appointed by it.</text>
  </level>
  <level label="d">
    <text>A receiver, temporary receiver, or trustee has all the powers of a receiver provided in this subtitle and any other powers provided in the order of the court, including the power to continue the corporate business.</text>
  </level>
  <level label="e">
    <text>If it orders dissolution, the court may provide by order:</text>
    <level label="1">
      <text>For the distribution in kind of the assets of the corporation to the stockholders; or</text>
    </level>
    <level label="2">
      <text>For some stockholders to receive assets of a different nature than other stockholders having the same type of interest.</text>
    </level>
  </level>
</section>
