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§ 5-702. Petition to court of equity

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 7. Miscellaneous
MD Code, Corporations and Associations, § 5-702
§ 5-702. Petition to court of equity
Currentness
In general
(a) A charitable or religious Maryland nonstock corporation may petition a court of equity for a decree under § 5-209 of this title if:
(1) The dissolution of the corporation involves provisions for disposition of assets under § 5-208(b)(2) or (3) of this title; or
(2) A consolidation, merger, or transfer of assets of the corporation under § 5-207 of this title involves similar provisions for the successor corporation.
Failure to petition
(b) The failure to petition a court of equity and obtain a decree does not affect the otherwise valid actions of the corporation in dissolution, consolidation, or merger, or in a transfer of assets.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1997, c. 31, § 10, eff. Oct. 1, 1997.
Formerly Art. 23, § 136B.
MD Code, Corporations and Associations, § 5-702, MD CORP & ASSNS § 5-702
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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