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§ 8-706. Completion of conversion

West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2013

West's Annotated Code of Maryland
Corporations and Associations
Title 8. Real Estate Investment Trusts (Refs & Annos)
Subtitle 7. Conversions of Real Estate Investment Trusts (Refs & Annos)
Effective: October 1, 2013
MD Code, Corporations and Associations, § 8-706
§ 8-706. Completion of conversion
Currentness
Conversion to a real estate investment trust
(a) The conversion of an other entity to a real estate investment trust shall be completed on the later of:
(1) The formation of the real estate investment trust in accordance with this title; or
(2) The effectiveness of articles of conversion filed for record with the Department.
Conversion to an other entity
(b) The conversion of a real estate investment trust to an other entity shall be completed on the effectiveness of articles of conversion filed for record with the Department.
Effectiveness of articles
(c) Articles of conversion are effective on the later of:
(1) The time the Department accepts the articles of conversion for record; or
(2) The future effective time of the articles of conversion as set forth in articles of conversion that have been accepted by the Department for record.
Effects of conversion to real estate investment trust
(d)(1)(i) Except as provided in subparagraph (ii) of this paragraph, at the time the conversion of an other entity to a real estate investment trust is completed:
1. The other entity shall be converted to a real estate investment trust;
2. The conversion shall have the effects set forth in § 8-704 of this subtitle; and
3. The real estate investment trust shall be subject to all of the provisions of the Maryland REIT Law.
(ii) The existence of the real estate investment trust shall be deemed to have commenced on the date the other entity commenced its existence in the place in which the other entity was first incorporated, created, formed, or otherwise came into being.
(2) At the time the conversion of a real estate investment trust to an other entity is completed, the conversion shall have the effects set forth in § 8-704 of this subtitle.

Credits

Added by Acts 2013, c. 527, § 2, eff. Oct. 1, 2013; Acts 2013, c. 528, § 2, eff. Oct. 1, 2013.
MD Code, Corporations and Associations, § 8-706, MD CORP & ASSNS § 8-706
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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