Home Table of Contents

§ 2-603. Approval of amendment, no outstanding 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 6. Amendment or Restatement of Charter
MD Code, Corporations and Associations, § 2-603
§ 2-603. Approval of amendment, no outstanding stock
Currentness
In general
(a) If there is no stock outstanding or subscribed for entitled to be voted on the charter amendment, it shall be approved as provided in this section.
Board meeting
(b)(1) If the amendment is made before the organization meeting of the board of directors, every incorporator shall execute and file amended articles of incorporation in the same form required by Subtitle 1 of this title for original articles of incorporation.
(2) When the Department accepts amended articles of incorporation for record, they take the place of the original articles.
Majority vote
(c) If the amendment is made at or after the organization meeting of the board of directors, it shall be approved by a majority of the entire board of directors.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.
Formerly Art. 23, § 11.
MD Code, Corporations and Associations, § 2-603, MD CORP & ASSNS § 2-603
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