1632

LAWS OF MARYLAND

[Ch. 311

(E) EFFECT OF JUDGMENT.

THE JUDGMENT IS FINAL AND CONCLUSIVE ON ALL PARTIES
AND HAS THE SAME FORCE AND EFFECT AS OTHER DECREES IN
EQUITY. THE JUDGMENT CONSTITUTES A LIEN ON THE ASSETS OF
THE SUCCESSOR WITH PRIORITY OVER ANY MORTGAGE OR OTHER
LIEN ATTACHING ON OR AFTER THE EFFECTIVE DATE OF THE
CONSOLIDATION, MERGER, TRANSFER, OR CHARTER AMENDMENT.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 23,
§73(f) second paragraph, (g) and (h).

For the definition of "assets," see §1—101.

[[3—211]] 3-212. SURRENDER OF STOCK.

THE SUCCESSOR IS NOT REQUIRED TO PAY FOR THE STOCK
OF AN OBJECTING STOCKHOLDER OR TO PAY A JUDGMENT RENDERED
AGAINST IT IN A PROCEEDING FOR AN APPRAISAL UNLESS,
SIMULTANEOUSLY WITH PAYMENT:

(1)    THE CERTIFICATES REPRESENTING THE STOCK ARE
SURRENDERED TO IT, INDORSED IN BLANK, AND IN PROPER FORM
FOR TRANSFER; OR

(2)     SATISFACTORY EVIDENCE OF THE LOSS OR
DESTRUCTION OF THE CERTIFICATES AND SUFFICIENT INDEMNITY
BOND ARE FURNISHED.

REVISOR'S NOTE: This section presently appears as
Art. 23, §73(j).

The only changes are in style.

[[3-212]] 3-213. RIGHTS OF SUCCESSOR WITH RESPECT TO
STOCK.

(A)   GENERAL RULE.

A SUCCESSOR WHICH ACQUIRES THE STOCK OF AN OBJECTING
STOCKHOLDER MAY RECEIVE ANY DIVIDENDS OR DISTRIBUTIONS
PAYABLE TO HOLDERS OF RECORD OF THAT STOCK ON A RECORD
DATE AFTER THE CLOSE OF BUSINESS ON THE DAY THE
STOCKHOLDERS VOTED ON THE TRANSACTION OBJECTED TO.

(B)   SUCCESSOR IN TRANSFER OF ASSETS.

AFTER ACQUIRING THE STOCK OF AN OBJECTING
STOCKHOLDER, A SUCCESSOR IN A TRANSFER OF ASSETS MAY
EXERCISE ALL THE RIGHTS OF AN OWNER OF THE STOCK.

(C)   SUCCESSOR IN CONSOLIDATION OR MERGER.