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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: - Maryland Code, Corporations and Associations § 5-702 - last updated December 31, 2021 |

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