§ 3-802. Application of subtitle to corporation
West's Annotated Code of MarylandCorporations and Associations
MD Code, Corporations and Associations, § 3-802
§ 3-802. Application of subtitle to corporation
(a) Notwithstanding any other provision in this article except subsection (b) of this section, this subtitle applies to each corporation that:
(1) Has a class of equity securities registered under the Securities Exchange Act of 1934;1 and
(b)(1) This subtitle applies only to a corporation that has at least three directors who, at the time of any election to become subject to the provisions of this subtitle:
(3) This subtitle does not apply to a corporation to the extent that the corporation elects not to be subject to any provision of this subtitle to which it has previously elected to be subject, if the corporation elects not to be subject to the provision in the same manner in which it elected to become subject to the provision, including the satisfaction of subsection (d)(1) of this section, if applicable.
(c) The charter of a corporation may contain a provision or the board of directors may adopt a resolution that prohibits the corporation from electing to be subject to any or all provisions of this subtitle.
(d)(1) A corporation shall file articles supplementary with the Department if:
Credits
Added by Acts 1999, c. 300, § 1, eff. June 1, 1999. Amended by Acts 2000, c. 61, § 1, eff. April 25, 2000.
Footnotes
June 6, 1934, ch. 404, 48 Stat. 881, codified at 15 U.S.C.A. § 78a et seq.
MD Code, Corporations and Associations, § 3-802, MD CORP & ASSNS § 3-802
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.
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