(a) A Maryland corporation having capital stock may:
(1) Consolidate with one or more other Maryland or foreign corporations having capital stock to form a new consolidated corporation;
(2) Merge into another Maryland or foreign corporation having capital stock, or have one or more such corporations merged into it;
(3) Merge into a domestic or foreign business trust having transferable units of beneficial interest, or have one or more such business trusts merge into it;
(4) Merge into a domestic or foreign limited partnership, or have one or more domestic or foreign limited partnerships merged into it;
(5) Merge into a domestic or foreign limited liability company, or have one or more domestic or foreign limited liability companies merged into it;
(6) Merge into a domestic or foreign partnership, or have one or more domestic or foreign partnerships merged into it;
(7) Participate in a share exchange either:
(i) As the successor; or
(ii) As the corporation the stock of which is to be acquired; or
(8) Transfer its assets.
Applicability
(b) The provisions of this subtitle do not repeal, modify, or affect in any way a restriction or limitation:
(1) Imposed on a corporation by State or other applicable law or by a charter provision which applies to a consolidation, merger share exchange, or transfer of assets; or
(2) Contained in a franchise granted by the State or any of its political subdivisions which applies to a transfer or assignment of the franchise.
Credits
Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1976, c. 567, § 2; Acts 1978, c. 255; Acts 1988, c. 550; Acts 1992, c. 536; Acts 1997, c. 654, § 2, eff. July 1, 1998; Acts 2010, c. 611, § 2, eff. June 1, 2010.
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
