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§ 5-111. Stock transfer

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 5. Special Types of Corporations (Refs & Annos)
Subtitle 1. Professional Service Corporations
MD Code, Corporations and Associations, § 5-111
§ 5-111. Stock transfer
Currentness
Transfer to qualified persons
(a) A stockholder of a professional corporation may transfer or pledge stock, fractional stock, and rights or options to purchase stock of the corporation only to a qualified person.
Violations
(b) A transfer of stock made in violation of subsection (a) of this section, except a transfer made by operation of law or by court judgment, is void.

Credits

Added by Acts 1993, c. 413, § 2.
MD Code, Corporations and Associations, § 5-111, MD CORP & ASSNS § 5-111
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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