§ 12-1003. Articles of conversion
West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2020
Effective: October 1, 2020
MD Code, Corporations and Associations, § 12-1003
§ 12-1003. Articles of conversion
(a) In this section, “facts ascertainable outside the articles of conversion” includes:
(c) In a conversion of a statutory trust to an other entity, the articles of conversion shall set forth:
(4) The manner and basis of converting or exchanging issued beneficial interests of the statutory trust into shares of stock, membership interests, partnership interests, beneficial interests, or other ownership interests of the other entity, or other consideration, and the treatment of any issued beneficial interests not to be converted or exchanged, any of which may be made dependent on facts ascertainable outside of the articles of conversion;
(d) In a conversion of an other entity to a statutory trust, the articles of conversion shall set forth:
(4) The manner and basis of converting or exchanging any outstanding shares of stock, membership interests, partnership interests, beneficial interests, or other ownership interests of the other entity into beneficial interests of the statutory trust, or other consideration, and the treatment of any outstanding shares of stock, membership interests, partnership interests, beneficial interests, or other ownership interests not to be converted or exchanged, any of which may be made dependent on facts ascertainable outside of the articles of conversion; and
Credits
Added by Acts 2013, c. 527, § 2, eff. Oct. 1, 2013; Acts 2013, c. 528, § 2, eff. Oct. 1, 2013. Amended by Acts 2020, c. 400, § 1, eff. Oct. 1, 2020; Acts 2020, c. 401, § 1, eff. Oct. 1, 2020.
MD Code, Corporations and Associations, § 12-1003, MD CORP & ASSNS § 12-1003
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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