Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-510
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-510
- 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.
- Trustee: A person or institution holding and administering property in trust.
One or more stockholders of a corporation may confer the right to vote or otherwise represent their stock to a trustee by:
(1) Entering into a written voting trust agreement which specifies the terms and conditions of the voting trust;
(2) Providing an executed copy of the voting trust agreement to the corporation at its principal office or by electronic transmission; and
(3) Transferring their stock for purposes of the agreement to a trustee.