Md. Code, Corporations and Associations § 1-402
This is the official text of Md. Code, Corporations and Associations § 1-402, part of Maryland’s Code, Corporations and Associations — governs the formation and operation of corporations, LLCs, and partnerships.
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§1–402.
Official statutory text
A determination required or permitted to be made under any provision of this article relating to stated capital, surplus, capital surplus, earned surplus, or any other account or matter relating to the financial position or results of operations of a Maryland corporation is prima facie proper and in accordance with this article if:
(1) Specific provisions of this article do not require otherwise; and
(2) It is made in good faith in accordance with generally accepted accounting practices and principles.
(1) Specific provisions of this article do not require otherwise; and
(2) It is made in good faith in accordance with generally accepted accounting practices and principles.
Status: in_force · Read it on the official government site
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