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§ 3-703. Contents of acquiring person statement

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 7. Voting Rights of Certain Control Shares
MD Code, Corporations and Associations, § 3-703
§ 3-703. Contents of acquiring person statement
Currentness
Any person who proposes to make or who has made a control share acquisition may deliver an acquiring person statement to the corporation at the corporation's principal office. The acquiring person statement shall set forth all of the following:
(1) The identity of the acquiring person and each other member of any group of which the person is a part for purposes of determining control shares;
(2) A statement that the acquiring person statement is given under this subtitle;
(3) The number of shares of the corporation owned (directly or indirectly) by the acquiring person and each other member of any group;
(4) The applicable range of voting power as set forth in § 3-701(e) of this subtitle; and
(5) If the control share acquisition has not occurred:
(i) A description in reasonable detail of the terms of the proposed control share acquisition; and
(ii) Representations of the acquiring person, together with a statement in reasonable detail of the facts on which they are based, that:
1. The proposed control share acquisition, if consummated, will not be contrary to law; and
2. The acquiring person has the financial capacity, through financing to be provided by the acquiring person and any additional specified sources of financing required under § 3-705 of this subtitle, to make the proposed control share acquisition.

Credits

Added by Acts 1989, c. 51. Amended by Acts 2014, c. 45, § 5.
MD Code, Corporations and Associations, § 3-703, MD CORP & ASSNS § 3-703
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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