State Codes and Statutes
Statutes > Maryland > Corporations-and-associations > Title-4 > Subtitle-5 > 4-501§ 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.]
