§ 12-1002

Maryland § 12-1002

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 12

Text

(a) Except as provided in the governing instrument, a conversion of a statutory trust to an other entity shall be approved by a majority of the trustees and by the beneficial owners by the affirmative vote of two–thirds of all the votes entitled to be cast on the matter.

(b) A conversion of an other entity to a statutory trust shall be approved in the manner and by the vote required by its governing document and the laws of the place where it is incorporated or organized.