Md. Code, Corp. & Ass'ns § 4-502

Current with changes from the 2024 legislative session from Chs. 2 through 1049, effective on or before 6/1/2024

Section 4-502 - Certain securities and stock options prohibited

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.

Md. Code, CA § 4-502