Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-611
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-611
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
(a) When articles of amendment become effective, the amendment becomes part of the charter of the corporation.
(b) When the Department accepts articles of restatement for record:
(1) If they were not approved in the manner required for a charter amendment, they become evidence of the charter; and
(2) If the articles were approved in the manner required for a charter amendment, they become the charter of the corporation and supersede all prior charter documents.
(c) When articles of amendment and restatement become effective, they become the charter of the corporation and supersede all prior charter documents.