Maryland Clauses Relating to Capital Calls
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FAQ
-- A corporation's indebtedness to a stockholder, incurred by reason of a distribution made in ance with this section, is at parity with the corporation's indebtedness to the corporation's general, unsecured creditors, except to the extent subordinated by agreement.
Section 3-202(c)(4) states that a stockholder may not demand fair value if the charter provides that the holders of the stock are not entitled to exercise the rights of an objecting shareholder under the subtitle.
In addition to its directors, a corporation must have at least three officers: a president, a secretary, and a treasurer. A corporation may have other officers, including any number of vice presidents.
§ 2-605. Charter amendment - Minor changes in name or designation of stock classes or series. (2) Change the name or other designation or the par value of any class or series of stock of the corporation and the aggregate par value of the stock of the corporation.
(a) Unless the charter or bylaws of the corporation require a greater proportion or this article requires a different proportion, the action of a majority of the directors present at a meeting at which a quorum is present is the action of the board of directors.