Md. Code, Corporations and Associations § 4-502

Md. Code, Corporations and Associations § 4-502
in effect
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A close corporation may not have outstanding any: (1) Securities which are convertible into its stock; (2) Voting securities other than stock; or (3) Options, warrants, or other rights to subscribe for or purchase any of its stock, unless they are nontransferable.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca&section=4-502&enactments=falseFetched: 10/16/2026

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