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MARYLAND STATUTES AND CODES

Section 4-501 - Restriction on issuance or sale of stock.

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§ 4-501. Restriction on issuance or sale of stock.If there is any stock of a close corporation outstanding, the corporation may not issue or sell any of its stock, including treasury stock, unless the issuance or sale is:(1) Approved by the affirmative vote of the holders of all outstanding stock; or(2) Permitted by a unanimous stockholders' agreement. [An. Code 1957, art. 23, § 102; 1975, ch. 311, § 2.]
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  • § 4-501. Restriction on issuance or sale of stock.
     

    If there is any stock of a close corporation outstanding, the corporation may not issue or sell any of its stock, including treasury stock, unless the issuance or sale is: 

    (1) Approved by the affirmative vote of the holders of all outstanding stock; or 

    (2) Permitted by a unanimous stockholders' agreement. 
     

    [An. Code 1957, art. 23, § 102; 1975, ch. 311, § 2.] 
     

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