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<section article="gca" article_name="Corporations and Associations" number="2-104" title_number="2" title_name="Corporations in General -- Formation, Organization, and Operation" subtitle_number="1" subtitle_name="Formation and Powers">
  <level label="a">
    <text>The articles of incorporation shall include:</text>
    <level label="1">
      <text>The name and address of each incorporator and a statement that each incorporator is:</text>
      <level label="i">
        <text>18 years old or older; and</text>
      </level>
      <level label="ii">
        <text>Forming a corporation under the general laws of the State of Maryland;</text>
      </level>
    </level>
    <level label="2">
      <text>The name of the corporation;</text>
    </level>
    <level label="3">
      <text>The purposes for which the corporation is formed or a statement that the corporation may engage in any lawful business or other activity;</text>
    </level>
    <level label="4">
      <text>The address of the principal office of the corporation;</text>
    </level>
    <level label="5">
      <text>The name and address of the resident agent of the corporation;</text>
    </level>
    <level label="6">
      <level label="i">
        <text>The total number of shares of stock of all classes which the corporation has authority to issue;</text>
      </level>
      <level label="ii">
        <text>The number of shares of stock of each class;</text>
      </level>
      <level label="iii">
        <text>The par value of the shares of stock of each class or a statement that the shares are without par value; and</text>
      </level>
      <level label="iv">
        <text>If there are any shares of stock with par value, the aggregate par value of all the shares of all classes;</text>
      </level>
    </level>
    <level label="7">
      <text>If the stock is divided into classes as permitted by § 2-105 of this subtitle, a description of each class including any preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends, qualifications, and terms and conditions of redemption; and</text>
    </level>
    <level label="8">
      <text>The number of directors and the names of those individuals who will serve as directors until their successors are elected and qualify.</text>
    </level>
  </level>
  <level label="b">
    <text>The articles of incorporation may include:</text>
    <level label="1">
      <text>Any provision not inconsistent with law that defines, limits, or regulates the powers of the corporation, its directors and stockholders, any class of its stockholders, or the holders of any bonds, notes, or other securities that it may issue;</text>
    </level>
    <level label="2">
      <text>Any restriction not inconsistent with law on the transferability of stock of any class;</text>
    </level>
    <level label="3">
      <text>Any provision authorized by this article to be included in the bylaws;</text>
    </level>
    <level label="4">
      <text>Any provision that requires for any purpose the concurrence of a greater proportion of the votes of all classes or series or of any class or series of stock than the proportion required by this article for that purpose;</text>
    </level>
    <level label="5">
      <text>A provision that requires for any purpose a lesser proportion of the votes of all classes or series or of any class or series of stock than the proportion required by this article for that purpose, but this proportion may not be less than a majority of all the votes entitled to be cast on the matter;</text>
    </level>
    <level label="6">
      <text>A provision that divides its directors into classes or series and specifies the term of office of each class or series;</text>
    </level>
    <level label="7">
      <text>A provision for minority representation through cumulative voting in the election of directors and the terms on which cumulative voting rights may be exercised;</text>
    </level>
    <level label="8">
      <text>A provision that varies in accordance with § 2–405.2 of this title the standards for liability of the directors and officers of a corporation for money damages;</text>
    </level>
    <level label="9">
      <text>A provision that allows the board of directors, in considering a potential acquisition of control of the corporation, to consider the effect of the potential acquisition of control on:</text>
      <level label="i">
        <text>Stockholders, employees, suppliers, customers, and creditors of the corporation; and</text>
      </level>
      <level label="ii">
        <text>Communities in which offices or other establishments of the corporation are located;</text>
      </level>
    </level>
    <level label="10">
      <text>A provision that contains a future effective date for the articles of incorporation that is not later than 30 days after the articles are accepted by the Department for record; and</text>
    </level>
    <level label="11">
      <text>If adopted after May 31, 1908, a provision stating that:</text>
      <level label="i">
        <text>The existence of the corporation is limited to a specific period; or</text>
      </level>
      <level label="ii">
        <text>The existence of the corporation shall be limited to a specific period that shall be continued, extended, or terminated on the occurrence of an event, an action, or a determination set forth in the charter.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <text>The inclusion or omission of a provision in the charter that allows the board of directors to consider the effect of a potential acquisition of control on persons specified in subsection (b)(9) of this section does not create an inference concerning factors that may be considered by the board of directors regarding a potential acquisition of control.</text>
  </level>
</section>
