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Session Laws, 1953
Volume 606, Page 760   View pdf image (33K)
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760 LAWS OF MARYLAND [CH. 405

[(6)] (g) The Commission shall prepare a certificate or
certificates of consolidation, merger, or transfer, as the
case may be, giving the names of the parties to the articles,
the name and the location of the principal office or place
of business of the new or the surviving corporation or of
the transferee, and the time of the acceptance of the
articles for record by the Commission. In addition to other
provisions of law with respect to recordation, one of such
certificates shall be transmitted by the Commission to the
clerk of court of each county in this State (other than any
county in which the articles will be recorded),
in which
the principal offices of one or more of the consolidating,
merging or transferor corporations are located and of each
county of this State in which the articles show any of
said consolidating, merging or transferor corporations,
other than the corporation surviving the merger, owns
property the title to which could be affected by the record-
ing of an instrument among the land records. Upon re-
ceipt of said certificate, the clerk of court shall promptly
record the same among the charter records, if it relates
to the location of a principal office, and among the land
records, if it relates to property the title of which could
be affected by the recording, of an instrument among the
land records.

[(7)] (h) Notwithstanding the foregoing provisions of
this section, the proposed consolidation, merger or trans-
fer may be abandoned prior to the effective date of the
articles, but not later than thirty days after the last meet-
ing of stockholders of any corporation party to the pro-
posed articles at which the action was approved:

(i) If the articles so provide, by majority vote of the
entire board of directors of any corporation of this State
party to the articles; or

(ii) Unless the articles otherwise provide, by majority
vote of the entire board of directors of every corporation
of this State party to the articles.

If the articles have been filed with the Commission, no-
tice of such abandonment shall be given promptly to the
Commission.

In the event the proposed consolidation, merger or trans-
fer is abandoned in accordance with the provisions of
this subsection, no legal liability shall arise under the
articles of consolidation, merger or transfer, but no such
action shall, in any event, prejudice the rights of any
person under any other contract made by a corporation


 

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Session Laws, 1953
Volume 606, Page 760   View pdf image (33K)
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