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Maryland Code, Corporations and Associations § 1-402

Current as of December 31, 2021 | Updated by FindLaw Staff

A determination required or permitted to be made under any provision of this article relating to stated capital, surplus, capital surplus, earned surplus, or any other account or matter relating to the financial position or results of operations of a Maryland corporation is prima facie proper and in accordance with this article if:

(1) Specific provisions of this article do not require otherwise;  and

(2) It is made in good faith in accordance with generally accepted accounting practices and principles.

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Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 1-402 - last updated December 31, 2021 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-1-402.html

Read this complete Maryland Code, Corporations and Associations § 1-402 on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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