1630

LAWS OF MARYLAND

[Ch. 311

AS TO THE FAIR VALUE OF THE STOCK.

(C)      CONTENTS OF REPORT.

THE REPORT SHALL STATE THE REASONS FOR THE
CONCLUSION AND SHALL INCLUDE A TRANSCRIPT OF ALL
TESTIMONY AND EXHIBITS OFFERED.

(D)       SERVICE OF REPORT; OBJECTION.

(1)      ON THE SAME DAY THAT THE REPORT IS FILED,
THE APPRAISERS SHALL MAIL [[ONE]] A COPY OF IT TO EACH
PARTY TO THE PROCEEDINGS.

(2)       WITHIN 15 DAYS AFTER THE REPORT IS FILED,
ANY PARTY MAY OBJECT TO IT AND REQUEST A HEARING.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first
paragraph of Art. 23, §73(f).

The time as of which the fair value is
determined appears in §3—201 of this article.

[[3-210]] 3-211. CONSIDERATION BY COURT OF APPRAISERS'
REPORT.

(A)       ORDER OF COURT.

THE COURT SHALL CONSIDER THE REPORT AND, ON MOTION
OF ANY PARTY TO THE PROCEEDING, ENTER AN ORDER WHICH:

(1)   CONFIRMS, MODIFIES, OR REJECTS IT; AND

(2)   IF APPROPRIATE, SETS THE TIME FOR PAYMENT
TO THE STOCKHOLDER.

(B)   PROCEDURE AFTER ORDER.

(1)   IF THE APPRAISERS' REPORT IS CONFIRMED OR
MODIFIED BY THE ORDER, JUDGMENT SHALL BE ENTERED AGAINST
THE SUCCESSOR AND IN FAVOR OF EACH OBJECTING STOCKHOLDER
PARTY TO THE PROCEEDING FOR THE APPRAISED FAIR VALUE OF
HIS STOCK.

(2)    IF THE APPRAISERS' REPORT IS REJECTED,
THE COURT MAY:

(I)   DETERMINE THE FAIR VALUE OF THE STOCK AND
ENTER JUDGMENT FOR THE STOCKHOLDER; OR

(II)   REMIT THE PROCEEDINGS TO THE SAME OR
OTHER APPRAISERS ON TERMS AND CONDITIONS IT CONSIDERS
PROPER.