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§ 2-705. Articles of validation

West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2022

West's Annotated Code of Maryland
Corporations and Associations
Title 2. Corporations in General--Formation, Organization, and Operation (Refs & Annos)
Subtitle 7. Ratification of Defective Corporate Acts (Refs & Annos)
Effective: October 1, 2022
MD Code, Corporations and Associations, § 2-705
§ 2-705. Articles of validation
Currentness
Filing articles of validation
(a)(1) If a defective corporate act ratified under this subtitle would have required the filing of a charter document with the Department under any provision of this article, the corporation shall file articles of validation in accordance with this section.
(2) If a charter document that was required to be filed with respect to the defective corporate act was not filed, the articles of validation required by this section shall be filed in lieu of the charter document that was not filed.
Contents of articles of validation
(b) The articles of validation required by this section shall include:
(1) The title and date of filing of any charter document previously filed with respect to the defective corporate act and any charter document that amended, supplemented, or corrected that charter document;
(2) A statement describing the defective corporate act;
(3) The date of the defective corporate act;
(4) A statement that the defective corporate act was ratified in accordance with this subtitle and a description of the ratification;
(5) The time that the ratification is to become effective; and
(6)(i) A statement that a charter document was previously filed with respect to the defective corporate act, and no change to the charter document is required;
(ii) 1. A statement that a charter document was previously filed with respect to the defective corporate act;
2. A statement describing the changes being made to the charter document; and
3. Any other information required by this article; or
(iii) 1. A statement that a charter document was not previously filed with respect to the defective corporate act and that a charter document was required to be filed;
2. A citation to the provision of this article under which the charter document was required to be filed; and
3. Any other information required by this article.

Credits

Added by Acts 2022, c. 289, § 1, eff. Oct. 1, 2022; Acts 2022, c. 290, § 1, eff. Oct. 1, 2022.
MD Code, Corporations and Associations, § 2-705, MD CORP & ASSNS § 2-705
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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