Maryland Corporations and Associations Section 2-205

      (a)      Unless the charter expressly grants such rights to the stockholder, a stockholder does not have any preemptive right to subscribe to:

            (1)      Any additional issue of stock; or

            (2)      Any security convertible into an additional issue of stock.

      (b)      (1)      A stockholder to whom a preemptive right has been granted may waive the preemptive right.

            (2)      A written waiver of a preemptive right is irrevocable even though it is not supported by consideration.