<?xml version='1.0' encoding='utf-8'?>
<section article="gca" article_name="Corporations and Associations" number="2-111" title_number="2" title_name="Corporations in General -- Formation, Organization, and Operation" subtitle_number="1" subtitle_name="Formation and Powers">
  <level label="a">
    <text>Each corporation shall maintain, or cause to be maintained on its behalf, correct and complete:</text>
    <level label="1">
      <text>Books and records of its accounts and transactions; and</text>
    </level>
    <level label="2">
      <text>Minutes of the proceedings of its stockholders and board of directors and of any executive or other committee when exercising any of the powers of the board of directors.</text>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>The books and records of a corporation may be in written form or in any other form that complies with § 2–114 of this subtitle.</text>
    </level>
    <level label="2">
      <text>Minutes shall be recorded in written form but may be maintained in the form of a reproduction or in any other form that complies with § 2–114 of this subtitle.</text>
    </level>
  </level>
</section>
