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2022 Maryland Statutes
Corporations and Associations
Title 4 - Close Corporations
Subtitle 5 - Stock Restrictions
Section 4-501 - Restriction on Issuance or Sale of Stock
Universal Citation:
MD Corporations and Associations Code § 4-501 (2022)
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If there is any stock of a close corporation outstanding, the corporation may not issue or sell any of its stock, including treasury stock, unless the issuance or sale is:
(1) Approved by the affirmative vote of the holders of all outstanding stock; or
(2) Permitted by a unanimous stockholders’ agreement.
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