§ 5-123

Maryland § 5-123

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 5

Text

(a) If a professional corporation ceases to render professional services, it shall amend its articles of incorporation to:

(1) Delete references to rendering professional services; and

(2) Conform the name of the corporation to the requirements of Title 1, Subtitle 5 of this article.

(b) After the amendment under subsection (a) of this section becomes effective, the corporation may continue in existence as a business corporation under Title 2 of this article and is no longer subject to this subtitle.

(c) An amendment under subsection (a) of this section does not affect the liability of the professional corporation, its employees, or stockholders for a transaction, occurrence, or act that occurred while the corporation was subject to this subtitle.