Maryland Corporations and Associations Section 5-702

Article - Corporations and Associations

§ 5-702.

      (a)      A charitable or religious Maryland nonstock corporation may petition a court of equity for a decree under § 5-209 of this article if:

            (1)      The dissolution of the corporation involves provisions for disposition of assets under § 5-208 (b) (2) or (3) of this article; or

            (2)      A consolidation, merger, or transfer of assets of the corporation under § 5-207 of this article involves similar provisions for the successor corporation.

      (b)      The failure to petition a court of equity and obtain a decree does not affect the otherwise valid actions of the corporation in dissolution, consolidation, or merger, or in a transfer of assets.



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