Md. Code, Corp. & Ass'ns § 4-501

Current with changes from the 2024 Legislative Session

Section 4-501 - Restriction on issuance or sale of stock

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.

Md. Code, CA § 4-501