2019 Maryland Code
Corporations and Associations
Title 2 - Corporations in General -- Formation, Organization, and Operation
Subtitle 2 - Issuance of Securities
§ 2-205. Preemptive rights

    (a)    For a corporation incorporated on or after October 1, 1995, 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)    For a corporation incorporated before October 1, 1995, a stockholder shall have preemptive rights as and to the extent in existence before October 1, 1995, unless and until expressly changed or terminated by charter amendment.

    (c)    (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.