§ 3–703
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 3-703 (2026)
Title 3. Corporations in General -- Extraordinary Actions
Subtitle 7. Voting Rights of Certain Control Shares
§ 3–703LinkCopy Citation
Any person who proposes to make or who has made a control share acquisition may deliver an acquiring person statement to the corporation at the corporation’s principal office. The acquiring person statement shall set forth all of the following:
(1)
The identity of the acquiring person and each other member of any group of which the person is a part for purposes of determining control shares;
(2)
A statement that the acquiring person statement is given under this subtitle;
(3)
The number of shares of the corporation owned (directly or indirectly) by the acquiring person and each other member of any group;
(4)
The applicable range of voting power as set forth in § 3–701(e) of this subtitle; and
(5)
If the control share acquisition has not occurred:
(i)
A description in reasonable detail of the terms of the proposed control share acquisition; and
(ii)
Representations of the acquiring person, together with a statement in reasonable detail of the facts on which they are based, that:
(1)
The proposed control share acquisition, if consummated, will not be contrary to law; and
(2)
The acquiring person has the financial capacity, through financing to be provided by the acquiring person and any additional specified sources of financing required under § 3–705 of this subtitle, to make the proposed control share acquisition.