Maryland Code, Corporations and Associations § 5-702
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(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.
Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 5-702 - last updated December 31, 2021 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-5-702/
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