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2020 Maryland Statutes
Corporations and Associations
Title 2 - Corporations in General -- Formation, Organization, and Operation
Subtitle 6 - Amendment or Restatement of Charter
Section 2-603 - Charter Amendment -- No Stock Outstanding or Subscribed For
Universal Citation:
MD. Corporations and Associations Code Ann. § 2-603 (2020)
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(a) If there is no stock outstanding or subscribed for entitled to be voted on the charter amendment, it shall be approved as provided in this section.
(b) (1) If the amendment is made before the organization meeting of the board of directors, every incorporator shall execute and file amended articles of incorporation in the same form required by Subtitle 1 of this title for original articles of incorporation.
(2) When the Department accepts amended articles of incorporation for record, they take the place of the original articles.
(c) If the amendment is made at or after the organization meeting of the board of directors, it shall be approved by a majority of the entire board of directors.
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