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Current as of December 31, 2021 | Updated by FindLaw Staff
(a) If a professional corporation ceases to render professional services, it shall amend its articles of incorporation to:
(1) Delete references to rendering professional services; and
(2) Conform the name of the corporation to the requirements of Title 1, Subtitle 5 of this article.
(b) After the amendment under subsection (a) of this section becomes effective, the corporation may continue in existence as a business corporation under Title 2 of this article and is no longer subject to this subtitle.
(c) An amendment under subsection (a) of this section does not affect the liability of the professional corporation, its employees, or stockholders for a transaction, occurrence, or act that occurred while the corporation was subject to this subtitle.
Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 5-123 - last updated December 31, 2021 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-5-123/
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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