Maryland Corporations and Associations Section 3-201

Article - Corporations and Associations

§ 3-201.

      (a)      In this subtitle, except as provided in subsection (b) of this section, "successor" 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.

      (b)      When used with reference to a share exchange, "successor" means the corporation the stock of which was acquired in the share exchange.



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