Home Table of Contents

§ 3-210. Report of appraisers

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 3. Corporations in General--Extraordinary Actions (Refs & Annos)
Subtitle 2. Rights of Objecting Stockholders
MD Code, Corporations and Associations, § 3-210
§ 3-210. Report of appraisers
Currentness
Court to appoint appraisers
(a) If the court finds that the objecting stockholder is entitled to an appraisal of his stock, it shall appoint three disinterested appraisers to determine the fair value of the stock on terms and conditions the court considers proper. Each appraiser shall take an oath to discharge his duties honestly and faithfully.
Report of appraisers
(b) Within 60 days after their appointment, unless the court sets a longer time, the appraisers shall determine the fair value of the stock as of the appropriate date and file a report stating the conclusion of the majority as to the fair value of the stock.
Contents of report
(c) The report shall state the reasons for the conclusion and shall include a transcript of all testimony and exhibits offered.
Service of report; objection
(d)(1) On the same day that the report is filed, the appraisers shall mail a copy of it to each party to the proceedings.
(2) Within 15 days after the report is filed, any party may object to it and request a hearing.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.
Formerly Art. 23, § 73.
MD Code, Corporations and Associations, § 3-210, MD CORP & ASSNS § 3-210
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document