Maryland Corporations and Associations Section 2-301

      (a)      (1)      In this subtitle, "distribution" means:

                  (i)      A direct or indirect transfer of money or other property of the corporation in respect of any of its shares; or

                  (ii)      An incurrence or forgiveness of indebtedness by a corporation to or for the benefit of the corporation's stockholders in respect of any of its shares.

            (2)      "Distribution" does not include a stock dividend or stock split authorized in accordance with § 2-309(c) of this subtitle.

      (b)      A distribution may be in the form of:

            (1)      A declaration or payment of a dividend;

            (2)      A purchase, redemption, whether or not at the option of the corporation or the stockholders, or other acquisition of shares; or

            (3)      An issuance of evidence of indebtedness.