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Maryland Code, Corporations and Associations § 5-702

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

(a) A charitable or religious Maryland nonstock corporation may petition a court of equity for a decree under § 5-209 of this title if:

(1) The dissolution of the corporation involves provisions for disposition of assets under § 5-208(b)(2) or (3) of this title; or

(2) A consolidation, merger, or transfer of assets of the corporation under § 5-207 of this title involves similar provisions for the successor corporation.

(b) The failure to petition a court of equity and obtain a decree does not affect the otherwise valid actions of the corporation in dissolution, consolidation, or merger, or in a transfer of assets.

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Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 5-702 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-5-702/

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