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§ 2-310.2. Investment companies; holding shares of stock

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 2. Corporations in General--Formation, Organization, and Operation (Refs & Annos)
Subtitle 3. Capital Accounts, Dividends, and Retirement of Shares (Refs & Annos)
MD Code, Corporations and Associations, § 2-310.2
§ 2-310.2. Investment companies; holding shares of stock
“Investment company” defined
(a) In this section, “investment company” means a corporation registered under the Investment Company Act of 1940.1
Shares held in a fiduciary capacity
(b) Unless otherwise provided in the charter of an investment company, if authorized by its board of directors, shares of any class or series of its stock acquired by an investment company using assets allocated to any other class or series of stock of the investment company may be held by the investment company in a fiduciary capacity for the benefit of the holders of shares of the other class or series of stock, and the investment company may exercise voting rights, receive distributions, and be allocated other rights to the extent determined by its board of directors.

Credits

Added by Acts 1999, c. 453, § 1, eff. Oct. 1, 1999.

Footnotes

Aug. 22, 1940, ch. 686, Title I, 54 Stat. 789, codified at 15 U.S.C.A. § 80a-1 et seq.
MD Code, Corporations and Associations, § 2-310.2, MD CORP & ASSNS § 2-310.2
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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