§ 3-316. Stocks exempt from preemptive rights
West's Annotated Code of MarylandFinancial Institutions
MD Code, Financial Institutions, § 3-316
§ 3-316. Stocks exempt from preemptive rights
(a) Unless the charter provides otherwise, a stockholder does not have any preemptive rights with respect to:
(b) In the absence of actual fraud or gross disparity in the determination, the fair value of stock determined by the board of directors and recorded in the resolution authorizing the issuance is conclusive.
(c) Unless the articles of incorporation provide otherwise, holders of the following securities do not have any preemptive rights:
Credits
Added by Acts 1989, c. 713, § 1, eff. July 1, 1989. Amended by Acts 1990, c. 6, § 2.
MD Code, Financial Institutions, § 3-316, MD FIN INST § 3-316
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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