There is a newer version of the Maryland Code
2013 Maryland Code
CORPORATIONS AND ASSOCIATIONS
§ 4-501 - Restriction on issuance or sale of stock
MD Corp & Assn Code § 4-501 (2013) What's This?
§4-501.
If there is any stock of a close corporation outstanding, the corporation may not issue or sell any of its stock, including treasury stock, unless the issuance or sale is:
(1) Approved by the affirmative vote of the holders of all outstanding stock; or
(2) Permitted by a unanimous stockholders’ agreement.
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