§ 3-102

Maryland § 3-102

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 3

Text

(a) A Maryland corporation having capital stock may:

(1) Consolidate with one or more other Maryland or foreign corporations having capital stock to form a new consolidated corporation;

(2) Merge into another Maryland or foreign corporation having capital stock, or have one or more such corporations merged into it;

(3) Merge into a domestic or foreign business trust having transferable units of beneficial interest, or have one or more such business trusts merge into it;

(4) Merge into a domestic or foreign limited partnership, or have one or more domestic or foreign limited partnerships merged into it;

(5) Merge into a domestic or foreign limited liability company, or have one or more domestic or foreign limited liability companies merged into it;

(6) Merge into a domestic or foreign partnership, or have one or more domestic or foreign partnerships merged into it;

(7) Participate in a share exchange either:

(i) As the successor; or

(ii) As the corporation the stock of which is to be acquired; or

(8) Transfer its assets.

(b) The provisions of this subtitle do not repeal, modify, or affect in any way a restriction or limitation:

(1) Imposed on a corporation by State or other applicable law or by a charter provision which applies to a consolidation, merger share exchange, or transfer of assets; or

(2) Contained in a franchise granted by the State or any of its political subdivisions which applies to a transfer or assignment of the franchise.