Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-702
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-702
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(b) A corporation shall approve the merger under the provisions of § 3-105 of this article.
(c) A business trust shall approve the merger under the provisions of § 8-501.1 or § 12-602 of this article.
(d) A partnership shall approve the merger under the provisions of § 9A-902 of this article.
(e) A limited partnership shall approve the merger under the provisions of § 10-208 of this article.
(f) Unless otherwise agreed, a domestic limited liability company shall approve the merger by the consent of the members holding at least two-thirds of the interest in profits of the limited liability company as determined under § 4A-503 of this title.
(g) A foreign limited liability company party to the merger shall have the merger advised, authorized, and approved in the manner and by the vote required by the laws of the place where it is organized.