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§ 12-1005. Conversion of stock and membership, partnership, beneficial, or other ownership inte...

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, § 12-1005
§ 12-1005. Conversion of stock and membership, partnership, beneficial, or other ownership interests
In general
(a) In a conversion of an other entity to a statutory trust, the stock, membership interests, partnership interests, beneficial interests, or other ownership interests of the other entity may be exchanged for or converted into any one or more of the following:
(1) Beneficial interests of the statutory trust or stock, evidence of indebtedness, membership interests, partnership interests, beneficial interests, or other ownership interests of any other statutory trust or other entity, whether or not party to the conversion;
(2) Other tangible or intangible property;
(3) Money; and
(4) Any other consideration.
Beneficial interests
(b) In a conversion of a statutory trust to an other entity, beneficial interests of the statutory trust may be exchanged for or converted into any one or more of the following:
(1) Stock, evidence of indebtedness, membership interests, partnership interests, beneficial interests, or other ownership interests of the other entity to which the statutory trust is converted or of any other statutory trust or other entity, whether or not party to the conversion;
(2) Other tangible or intangible property;
(3) Money; and
(4) Any other consideration.

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, § 12-1005, MD CORP & ASSNS § 12-1005
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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