§ 5-528. Payment for acquisition of business
West's Annotated Code of MarylandCorporations and Associations
MD Code, Corporations and Associations, § 5-528
§ 5-528. Payment for acquisition of business
(a) If a cooperative purchases the business of another person, it may pay for the purchase in whole or in part by issuing to the seller certificates of indebtedness or shares of its capital stock in an amount which at par value would equal the fair market value of the business purchased.
(b) A transfer to the cooperative of the business at this valuation is equivalent to payment in cash for the stock issued.
Credits
Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1976, c. 567, § 2.
Formerly Art. 23, § 367.
MD Code, Corporations and Associations, § 5-528, MD CORP & ASSNS § 5-528
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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