§ 3-201. Definitions
West's Annotated Code of MarylandCorporations and AssociationsEffective: June 1, 2008
Effective: June 1, 2008
MD Code, Corporations and Associations, § 3-201
§ 3-201. Definitions
(d) “Beneficial owner”, when used with respect to any voting stock, means a person that:
(i) The right to acquire voting stock (whether the right is exercisable immediately or within 60 days after the date on which beneficial ownership is determined), in accordance with any agreement, arrangement, or understanding, on the exercise of conversion rights, exchange rights, warrants, or options, or otherwise; or
(3) Except solely by virtue of a revocable proxy, has any agreement, arrangement, or understanding for the purpose of acquiring, holding, voting, or disposing of voting stock with any other person that beneficially owns, or the affiliates or associates of which beneficially own, directly or indirectly, the voting stock.
(e) “Executive officer” means a corporation's president, any vice president in charge of a principal business unit, division, or function, such as sales, administration, or finance, any other person who performs a policy making function for the corporation, or any executive officer of a subsidiary of the corporation who performs a policy making function for the corporation.
(f)(1) “Successor”, except when used with respect to a share exchange, includes a corporation which amends its charter in a way which alters the contract rights, as expressly set forth in the charter, of any outstanding stock, unless the right to do so is reserved by the charter of the corporation.
Credits
Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1985, c. 657; Acts 2008, c. 191, § 1, eff. June 1, 2008.
Formerly Art. 23, § 73.
MD Code, Corporations and Associations, § 3-201, MD CORP & ASSNS § 3-201
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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