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Maryland Code, Financial Institutions § 3-708

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

(a) The agreement shall be submitted to the stockholders of each constituent bank for approval by them at a meeting called for that purpose.

(b)(1) In addition to any other required notice, the directors of each constituent bank shall give 2 weeks' public notice of the meeting of stockholders.

(2) The public notice shall be published once in at least one newspaper published in the county where the constituent bank has its principal banking office.

(3) Each notice of the meeting of stockholders shall state that objecting stockholders will be entitled to payment of the fair value of only those shares of stock that are voted against approval of the agreement.

(c) The agreement shall be approved by the stockholders of each constituent bank by the affirmative vote of two thirds of all the votes entitled to be cast on the matter.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 3-708 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-3-708/

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