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§ 1-402. Financial accounts

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 1. General Provisions (Refs & Annos)
Subtitle 4. Miscellaneous
MD Code, Corporations and Associations, § 1-402
§ 1-402. Financial accounts
Currentness
A determination required or permitted to be made under any provision of this article relating to stated capital, surplus, capital surplus, earned surplus, or any other account or matter relating to the financial position or results of operations of a Maryland corporation is prima facie proper and in accordance with this article if:
(1) Specific provisions of this article do not require otherwise; and
(2) It is made in good faith in accordance with generally accepted accounting practices and principles.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.
Formerly Art. 23, § 49.
MD Code, Corporations and Associations, § 1-402, MD CORP & ASSNS § 1-402
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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