2013 Maryland Code
CORPORATIONS AND ASSOCIATIONS
§ 2-202 - Subscription for stock


MD Corp & Assn Code § 2-202 (2013) What's This?

§2-202.

(a) A subscription for stock of a corporation which is not yet formed is irrevocable for a period of 3 months, unless:

(1) The subscription agreement provides otherwise; or

(2) Every subscriber consents to the revocation of the subscription.

(b) Unless the subscription agreement provides otherwise, a subscription is not void or unenforceable solely because less than all of the authorized stock is subscribed for.

(c) Unless the subscription agreement provides otherwise, a subscription for stock, whether made before or after the corporation is formed, shall be paid in full or in installments at the times set by the board of directors.

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