Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-114
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-114
- 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.
- 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.
- including: means includes or including by way of illustration and not by way of limitation. See
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
(1) Bylaws;
(2) Minutes of the proceedings of the stockholders;
(3) Annual statements of affairs;
(4) Stock ledgers;
(5) Records of issuances, transfers, and cancellations of shares of stock; and
(6) Voting trust agreements.
(b) The records of a corporation may be maintained by means of any information storage device, method, or electronic network or database, including a distributed electronic network or database, if:
(1) The records can be converted within a reasonable time into clearly legible written form for visual inspection; and
(2) With respect to records maintained on an electronic ledger or distributed electronic ledger, the records can be used for the purpose of:
(i) Making a proper determination with respect to stockholders under § 2-511(a) of this title; and
(ii) Preparing a list of stockholders in accordance with § 2-513(b)(2) of this title.
(c) A corporation shall convert a record maintained in accordance with subsection (b) of this section into a clearly legible written form on request of any person who is entitled to inspect the record under this title.
(d) (1) This subsection applies to records of a corporation that are maintained in accordance with subsection (b) of this section.
(2) If a written form accurately portrays a record, a clearly legible written form prepared from or by means of the information storage device, method, or electronic network or database used to maintain the record shall be admissible as evidence and accepted for all other purposes to the same extent that an original written record of the same information would have been.