§ 4–502

Statutes in effect as of October 1, 2026.

Md. Code Ann., Corps. & Ass'ns § 4-502 (2026)

Title 4. Close Corporations

Subtitle 5. Stock Restrictions

A close corporation may not have outstanding any:

(1)

Securities which are convertible into its stock;

(2)

Voting securities other than stock; or

(3)

Options, warrants, or other rights to subscribe for or purchase any of its stock, unless they are nontransferable.