Md. Code, Corporations and Associations § 3-301
This is the official text of Md. Code, Corporations and Associations § 3-301, part of Maryland’s Code, Corporations and Associations — governs the formation and operation of corporations, LLCs, and partnerships.
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§3–301.
Official statutory text
(a) If the final order of a court makes a plan of reorganization binding on the stockholders of a corporation, the board of directors, trustee, or receiver, as the case may be, may take any action necessary to carry out the plan without any other corporate approval.
(b) If a charter document is required to be filed with the Department to carry out a transaction under subsection (a) of this section, it shall state:
(1) That the transaction was carried out under a plan of reorganization pursuant to a final order of a court having jurisdiction;
(2) The name of the court and the caption and docket number of the proceedings; and
(3) That the transaction was approved by the board of directors, trustee, or receiver, as the case may be.
(c) If the action is taken by a trustee or receiver, he may sign and acknowledge the charter document for the corporation, and no other execution, acknowledgment, or affidavit on behalf of the corporation is required.
(b) If a charter document is required to be filed with the Department to carry out a transaction under subsection (a) of this section, it shall state:
(1) That the transaction was carried out under a plan of reorganization pursuant to a final order of a court having jurisdiction;
(2) The name of the court and the caption and docket number of the proceedings; and
(3) That the transaction was approved by the board of directors, trustee, or receiver, as the case may be.
(c) If the action is taken by a trustee or receiver, he may sign and acknowledge the charter document for the corporation, and no other execution, acknowledgment, or affidavit on behalf of the corporation is required.
Status: in_force · Read it on the official government site
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