Home Table of Contents

§ 2-405.3. Investment company corporations; interested and disinterested persons

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 4. Directors and Officers (Refs & Annos)
MD Code, Corporations and Associations, § 2-405.3
§ 2-405.3. Investment company corporations; interested and disinterested persons
Currentness
Application
(a) This section applies to a corporation that is an investment company, as defined by the Investment Company Act of 1940.1
Independent and disinterested
(b) A director of a corporation who with respect to the corporation is not an interested person, as defined by the Investment Company Act of 1940, shall be deemed to be independent and disinterested when making any determination or taking any action as a director.

Credits

Added by Acts 1998, c. 397, § 2, eff. Oct. 1, 1998. Amended by Acts 2000, c. 1, § 1, eff. March 24, 2000; Acts 2001, c. 31, § 1, eff. June 1, 2001.

Footnotes

1
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, § 2-405.3, MD CORP & ASSNS § 2-405.3
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.
End of Document