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Maryland Code, Corporations and Associations § 2-512

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Any stockholder, holder of a voting trust certificate in a corporation, or his agent, on request provided in writing or by electronic transmission, may inspect and copy during usual business hours any of the following corporate documents:

(1) Bylaws;

(2) Minutes of the proceedings of the stockholders;

(3) Annual statements of affairs; and

(4) Voting trust agreements provided to the corporation in accordance with § 2-510(2) of this subtitle.

(b) Within 7 days after a request for documents made under subsection (a) of this section is provided to an officer of a corporation, the resident agent of a corporation, or an agent designated by a corporation to maintain corporate documents on the corporation's behalf, the corporation shall:

(1) Have the requested documents available on file at its principal office; or

(2) Make the requested documents available by electronic transmission.

(c)(1) Any stockholder or holder of a voting trust certificate in a corporation other than an open-ended investment company may provide to any officer of the corporation, the resident agent of the corporation, or any agent designated by the corporation to maintain corporate documents on the corporation's behalf, a request in writing or by electronic transmission for a statement showing all stock and securities issued by the corporation during a specified period of not more than 12 months before the date of the request.

(2) Within 20 days after a request is made under this subsection, the corporation shall prepare and have available on file at its principal office or make available by electronic transmission a sworn statement of its president or treasurer or one of its vice-presidents or assistant treasurers which states:

(i) The number of shares or amounts of each class of stock or other securities issued during the specified period;

(ii) The consideration received per share or unit, which may be aggregated as to all issuances for the same consideration per share or unit; and

(iii) The value of any consideration other than money as set in a resolution of the board of directors.

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Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 2-512 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-2-512/

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