2016 Maryland Code
Corporations and Associations
Title 12 - Statutory Trusts
Subtitle 10 - Conversions of Statutory Trusts.
§ 12-1002. Approval.
(a) Statutory trust to other entity. -- Except as provided in the governing instrument, a conversion of a statutory trust to an other entity shall be approved by a majority of the trustees and by the beneficial owners by the affirmative vote of two-thirds of all the votes entitled to be cast on the matter.
(b) Other entity to statutory trust. -- A conversion of an other entity to a statutory trust shall be approved in the manner and by the vote required by its governing document and the laws of the place where it is incorporated or organized.
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