# Corporations and Associations (GCA)

## Title 2. Corporations in General -- Formation, Organization, and Operation

### Subtitle 2. Issuance of Securities

#### Section 2-205

(a) For a corporation incorporated on or after October 1, 1995, unless the charter expressly grants such rights to the stockholder, a stockholder does not have any preemptive right to subscribe to:

  (1) Any additional issue of stock; or

  (2) Any security convertible into an additional issue of stock.

(b) For a corporation incorporated before October 1, 1995, a stockholder shall have preemptive rights as and to the extent in existence before October 1, 1995, unless and until expressly changed or terminated by charter amendment.

(c)

  (1) A stockholder to whom a preemptive right has been granted may waive the preemptive right.

  (2) A written waiver of a preemptive right is irrevocable even though it is not supported by consideration.

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Md. Code Ann., Corps. & Ass'ns (as displayed at mgaleg.maryland.gov, October 16, 2026)