§ 9A-1202

Maryland § 9A-1202

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 9A

Text

(a) A partnership organized under the laws of this State shall approve the conversion of the partnership to an other entity by the affirmative vote of all of its partners, or a lesser number or percentage specified for conversion in its partnership agreement.

(b) An other entity seeking to convert to a partnership organized under the laws of this State shall:

(1) Approve the conversion of the other entity to the partnership in the manner and by the vote required by its governing document and the laws of the place where it is incorporated or organized; and

(2) Comply with all other requirements for the formation of a partnership under the laws of this State.

(c) (1) A partner of a partnership objecting to a conversion of the partnership has the same rights with respect to the partner’s interest in the partnership as a stockholder of a Maryland corporation who objects has with respect to the stockholder’s stock under Title 3, Subtitle 2 of this article.

(2) The procedures under Title 3, Subtitle 2 of this article shall be applicable to the extent practicable.