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Maryland Code, Corporations and Associations § 1-402

Current as of January 01, 2025 | 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 January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-1-402/

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