Md. Code, Corporations and Associations § 5-702
This is the official text of Md. Code, Corporations and Associations § 5-702, part of Maryland’s Code, Corporations and Associations — governs the formation and operation of corporations, LLCs, and partnerships.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§5–702.
Official statutory text
(a) A charitable or religious Maryland nonstock corporation may petition a court of equity for a decree under § 5–209 of this title if:
(1) The dissolution of the corporation involves provisions for disposition of assets under § 5–208(b)(2) or (3) of this title; or
(2) A consolidation, merger, or transfer of assets of the corporation under § 5–207 of this title involves similar provisions for the successor corporation.
(b) The failure to petition a court of equity and obtain a decree does not affect the otherwise valid actions of the corporation in dissolution, consolidation, or merger, or in a transfer of assets.
(1) The dissolution of the corporation involves provisions for disposition of assets under § 5–208(b)(2) or (3) of this title; or
(2) A consolidation, merger, or transfer of assets of the corporation under § 5–207 of this title involves similar provisions for the successor corporation.
(b) The failure to petition a court of equity and obtain a decree does not affect the otherwise valid actions of the corporation in dissolution, consolidation, or merger, or in a transfer of assets.
Status: in_force · Read it on the official government site
Dealing with a business matter in Maryland?
See all Maryland Business lawyers
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.