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§ 6.5-304. Effect of acquisition

West's Annotated Code of MarylandState Government

West's Annotated Code of Maryland
State Government (Refs & Annos)
Title 6.5. Attorney General; Acquisition of Nonprofit Health Entities (Refs & Annos)
Subtitle 3. Review Criteria and Penalties (Refs & Annos)
MD Code, State Government, § 6.5-304
§ 6.5-304. Effect of acquisition
Currentness
Corporate status
(a) A corporation that becomes a for-profit health entity under this title may not be deemed to have abandoned its corporate status by virtue of an acquisition unless the acquisition provides specifically to the contrary.
Filings
(b) The certificate of authority, agent appointments, licenses, forms, and any other filings in existence at the time of an acquisition shall continue in full force and effect upon an acquisition if a corporation at all times remains qualified to engage in business in the State.
Contracts
(c) All outstanding contracts of a transferor shall remain in full force and effect and need not be otherwise endorsed unless ordered by the regulating entity.

Credits

Added by Acts 1998, c. 123, § 1, eff. Oct. 1, 1998; Acts 1998, c. 124, § 1, eff. Oct. 1, 1998.
MD Code, State Government, § 6.5-304, MD STATE GOVT § 6.5-304
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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