Maryland Code, CORPORATIONS AND ASSOCIATIONS 5-115
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 5-115
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: means a county of the State or Baltimore City. See
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(2) The corporation shall make the disqualified stockholder a party to the proceeding as in an action against the stockholder’s stock.
(3) The jurisdiction of the court in which the proceeding is filed is plenary and exclusive.
(b) (1) The court may appoint one or more persons as appraisers to receive evidence and make recommendations on the question of fair value.
(2) The appraisers under paragraph (1) of this subsection have the powers described in the order appointing them.
(c) The disqualified stockholder is entitled to judgment for the fair value of his stock determined by the court as of the date of death, disqualification, or transfer, together with interest from that date at a rate found by the court to be fair and equitable.
(d) The court may order the judgment to be paid in installments.