Maryland Code, CORPORATIONS AND ASSOCIATIONS 4-203
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 4-203
- 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 charter of a close corporation may be amended to remove the statement of election to be a close corporation, but only by the affirmative vote of every stockholder and every subscriber for stock of the corporation.