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§ 2-114. Maintenance of corporation records on information storage device, method, or electroni...

West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2019

West's Annotated Code of Maryland
Corporations and Associations
Title 2. Corporations in General--Formation, Organization, and Operation (Refs & Annos)
Subtitle 1. Formation and Powers
Effective: October 1, 2019
MD Code, Corporations and Associations, § 2-114
§ 2-114. Maintenance of corporation records on information storage device, method, or electronic network or database; conversion to written form
Currentness
Scope of section
(a) This section applies to any books or records maintained by or on behalf of a corporation, including:
(1) Bylaws;
(2) Minutes of the proceedings of the stockholders;
(3) Annual statements of affairs;
(4) Stock ledgers;
(5) Records of issuances, transfers, and cancellations of shares of stock; and
(6) Voting trust agreements.
Maintenance of corporation records on information storage device, method, or electronic network or database
(b) The records of a corporation may be maintained by means of any information storage device, method, or electronic network or database, including a distributed electronic network or database, if:
(1) The records can be converted within a reasonable time into clearly legible written form for visual inspection; and
(2) With respect to records maintained on an electronic ledger or distributed electronic ledger, the records can be used for the purpose of:
(i) Making a proper determination with respect to stockholders under § 2-511(a) of this title; and
(ii) Preparing a list of stockholders in accordance with § 2-513(b)(2) of this title.
Conversion of records to written form
(c) A corporation shall convert a record maintained in accordance with subsection (b) of this section into a clearly legible written form on request of any person who is entitled to inspect the record under this title.
Admissibility of records as evidence
(d)(1) This subsection applies to records of a corporation that are maintained in accordance with subsection (b) of this section.
(2) If a written form accurately portrays a record, a clearly legible written form prepared from or by means of the information storage device, method, or electronic network or database used to maintain the record shall be admissible as evidence and accepted for all other purposes to the same extent that an original written record of the same information would have been.

Credits

Added by Acts 2019, c. 288, § 1, eff. Oct. 1, 2019.
MD Code, Corporations and Associations, § 2-114, MD CORP & ASSNS § 2-114
Current through legislation effective through July 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document