§ 2-602. Restrictions upon amendment
West's Annotated Code of MarylandCorporations and Associations
MD Code, Corporations and Associations, § 2-602
§ 2-602. Restrictions upon amendment
(a) A corporation may amend its charter from time to time in any respect, provided that:
(3) If the amendment alters the contract rights, as expressly set forth in the charter, of any outstanding stock, and the charter does not reserve the right to make the amendment, any objecting stockholder whose rights are substantially adversely affected has the right to receive the fair value of his stock as an objecting stockholder under Title 3, Subtitle 2 of this article.
(b) In addition to the general power to amend granted in subsection (a) of this section, a corporation from time to time may amend its charter to:
Credits
Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.
Formerly Art. 23, § 10.
MD Code, Corporations and Associations, § 2-602, MD CORP & ASSNS § 2-602
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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