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§ 12-1006. Completion of conversion

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

West's Annotated Code of Maryland
Corporations and Associations
Title 12. Statutory Trusts (Refs & Annos)
Subtitle 10. Conversions of Statutory Trusts (Refs & Annos)
Effective: October 1, 2013
MD Code, Corporations and Associations, § 12-1006
§ 12-1006. Completion of conversion
In general
(a) The conversion of an other entity to a statutory trust shall be completed on the later of:
(1) The formation of the statutory trust in accordance with this title; or
(2) The effectiveness of articles of conversion filed for record with the Department.
Completion
(b) The conversion of a statutory trust to an other entity shall be completed on the effectiveness of articles of conversion filed for record with the Department.
Effective date
(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.
Time of conversion
(d)(1)(i) Except as provided in subparagraph (ii) of this paragraph, at the time the conversion of an other entity to a statutory trust is completed:
1. The other entity shall be converted to a statutory trust;
2. The conversion shall have the effects set forth in § 12-1004 of this subtitle; and
3. The statutory trust shall be subject to all of the provisions of the Maryland Statutory Trust Act.
(ii) Notwithstanding § 12-204 of this title, the existence of the statutory trust shall be deemed to have commenced on the date the other entity commenced 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 statutory trust to an other entity is completed, the conversion shall have the effects set forth in § 12-1004 of this subtitle.

Credits

Added by Acts 2013, c. 527, § 2, eff. Oct. 1, 2013; Acts 2013, c. 528, § 2, eff. Oct. 1, 2013. Amended by Acts 2013, c. 43, § 5.
MD Code, Corporations and Associations, § 12-1006, MD CORP & ASSNS § 12-1006
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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