Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-305
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-305
- 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.
The corporation may pay or allow out of the consideration received by it for its stock, the reasonable charges and expenses of its organization or reorganization and the reasonable compensation for the sale or underwriting of its stock, without rendering the stock not full paid and nonassessable and without impairing the stated capital.