MARVIN MANDEL, Governor

1687

§18 of the Code" is substituted for the
requirement of present Art. 23, §440(a) that
the name be registered "in the same manner as
required for the registration of fictitious
names," This is done since Maryland has no
fictitious name statute as such, and to
conform with the present practice. Further,
Art. 2, §18 meets the statutory scheme of
this section.

The only other changes are in style.

5-110. CORPORATE NAME - STOCKHOLDER'S NAME REQUIRED.

(A)   INCLUSION OF STOCKHOLDER'S NAME; EXCEPTION.

THE CORPORATE NAME OF A PROFESSIONAL CORPORATION
SHALL CONTAIN THE SURNAME OF ONE OR MORE STOCKHOLDERS
UNLESS:

(1)    THE CORPORATION HAS OR WHEN INCORPORATED
WILL HAVE AT LEAST FOUR STOCKHOLDERS;

(2)   THE NAME OF THE CORPORATION IS APPROVED
BY THE APPROPRIATE LICENSING UNIT IS A NAME WHICH IS IN
ACCORDANCE WITH THE ESTABLISHED ETHICAL STANDARDS, RULES,
AND REGULATIONS OF THE PROFESSION;

(3)   A CERTIFICATE OF AUTHORIZATION FOR USE OF
CORPORATE NAME IS ISSUED BY THE APPROPRIATE LICENSING
UNIT TO THE CORPORATION OR TO ITS INCORPORATOR;

(4) THE CHARTER DOCUMENT WHICH ADOPTS THE
NAME STATES THAT THE CORPORATION, IN THE CASE OF ARTICLES
OF INCORPORATION, WILL HAVE, OR, IN THE CASE OF ARTICLES
OF AMENDMENT, ALREADY HAS AT LEAST FOUR STOCKHOLDERS;
AND

(5) THE CERTIFICATE OF AUTHORIZATION FOR USE
OF CORPORATE NAME ISSUED BY THE LICENSING UNIT IS
ATTACHED TO THE CHARTER DOCUMENT IN WHICH THE NAME IS
ADOPTED.

(B)   REDUCTION BELOW FOUR STOCKHOLDERS.

(1)   IF THE NUMBER OF STOCKHOLDERS IS REDUCED
BELOW FOUR, THE CORPORATION SHALL FILE WITHIN 90 DAYS
AFTER THE REDUCTION ARTICLES OF AMENDMENT ADOPTING A NEW
CORPORATE NAME THAT INCLUDES THE SURNAME OF AT LEAST ONE
STOCKHOLDER.

(2)   IF, DURING THIS 90-DAY PERIOD, THE NUMBER
OF STOCKHOLDERS INCREASES TO AT LEAST FOUR, THE
CORPORATION NEED NOT COMPLY WITH SUBSECTION (B) (1) OF