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2021 Maryland Statutes
Corporations and Associations
Title 4 - Close Corporations
Subtitle 5 - Stock Restrictions
Section 4-502 - Certain Securities and Stock Options Prohibited
Universal Citation:
MD Corporations and Associations Code Ann. § 4-502 (2021)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
A close corporation may not have outstanding any:
(1) Securities which are convertible into its stock;
(2) Voting securities other than stock; or
(3) Options, warrants, or other rights to subscribe for or purchase any of its stock, unless they are nontransferable.
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