Md. Code, Corporations and Associations § 2-205
This is the official text of Md. Code, Corporations and Associations § 2-205, part of Maryland’s Code, Corporations and Associations — governs the formation and operation of corporations, LLCs, and partnerships.
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§2–205.
Official statutory text
(a) For a corporation incorporated on or after October 1, 1995, unless the charter expressly grants such rights to the stockholder, a stockholder does not have any preemptive right to subscribe to:
(1) Any additional issue of stock; or
(2) Any security convertible into an additional issue of stock.
(b) For a corporation incorporated before October 1, 1995, a stockholder shall have preemptive rights as and to the extent in existence before October 1, 1995, unless and until expressly changed or terminated by charter amendment.
(c) (1) A stockholder to whom a preemptive right has been granted may waive the preemptive right.
(2) A written waiver of a preemptive right is irrevocable even though it is not supported by consideration.
(1) Any additional issue of stock; or
(2) Any security convertible into an additional issue of stock.
(b) For a corporation incorporated before October 1, 1995, a stockholder shall have preemptive rights as and to the extent in existence before October 1, 1995, unless and until expressly changed or terminated by charter amendment.
(c) (1) A stockholder to whom a preemptive right has been granted may waive the preemptive right.
(2) A written waiver of a preemptive right is irrevocable even though it is not supported by consideration.
Status: in_force · Read it on the official government site
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