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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)
Learn more 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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