1516                                     LAWS OF MARYLAND                            Ch. 567

2 OF THIS ARTICLE.

3-114.1.

ON CONSUMMATION OF A SHARE EXCHANGE, THE
STOCKHOLDERS OF THE CORPORATION THE STOCK OF WHICH IS TO
BE ACQUIRED ARE DEEMED TO HAVE EXCHANGED THEIR STOCK AS
PROVIDED BY THE ARTICLES, WITHOUT FURTHER ACT, SUBJECT TO
THE RIGHTS OF AN OBJECTING STOCKHOLDER UNDER SUBTITLE 2
OF THIS TITLE.

3-520.

(A) IF THE PERIOD OF EXISTENCE OF A CORPORATION IS
LIMITED BY ITS CHARTER, THE CORPORATION SHALL COMPLY WITH

THE FOLLOWING CONDITIONS BEFORE THE PERIOD OF ITS

EXISTENCE EXPIRES:

(1) ALL TAXES NOT BARRED BY LIMITATIONS AND
PAYABLE BY THE CORPORATION TO THE DEPARTMENT, INCLUDING
TAXES BILLED AT THE CURRENT RATE UNDER ARTICLE 81, §49A
OF THE CODE, SHALL BE PAID OR PROVIDED FOR IN A MANNER
SATISFACTORY TO THE DEPARTMENT; AND

(2) CERTIFICATES OF THE COMPTROLLER AND OF

EACH COLLECTOR OF TAXES ON THE__LIST SUPPLIED BY THE

DEPARTMENT, AS PROVIDED IN SUBSECTION (C) OF THIS

SECTION, STATING THAT ALL TAXES NOT BARRED BY LIMITATIONS
WHICH ARE LEVIED ON ASSESSMENTS MADE BY THE DEPARTMENT
AND BILLED BY AND PAYABLE TO THEM BY THE CORPORATION,
INCLUDING TAXES BILLED FOR THE YEAR IN WHICH EXPIRATION
OF EXISTENCE IS TO OCCUR, SHALL BE PAID OR PROVIDED FOR
IN A MANNER SATISFACTORY TO THEM.

(B) A COLLECTOR OF TAXES MAY NOT CERTIFY THE

PAYMENT OF TAXES UNTIL HE HAS RECEIVED FROM THE

DEPARTMENT CERTIFIED ASSESSMENTS OF PERSONAL PROPERTY
AFTER THE PRECEDING DATE OF FINALITY AND THE TAXES HAVE

BEEN BILLED AT THE CURRENT YEAR'S__RATE. HOWEVER, A

CERTIFICATE BASED ON A SATISFACTORY PROVISION FOR PAYMENT
MAY BE MADE BEFORE THEN.

(C) ON WRITTEN REQUEST OF THE CORPORATION, THE
DEPARTMENT SHALL FURNISH IT WITHOUT CHARGE A LIST OF ALL
COLLECTORS OF TAXES OF COUNTIES AND MUNICIPALITIES TO

WHICH THE DEPARTMENT HAS CERTIFIED AN ASSESSMENT OF

PERSONAL PROPERTY TAXABLE TO THE CORPORATION WITHIN THE
PRECEDING FOUR YEARS.

(D) NOTWITHSTANDING ANY PROVISION OF ITS CHARTER,
ANY CORPORATION WITH A LIMITED PERIOD OF EXISTENCE CEASES
TO EXIST ONLY AS OF THE LATER OF:

(1) THE DATE OR EXPIRATION OF THE PERIOD

SPECIFIED IN ITS CHARTER; OR

(2) THE DATE ON WHICH THE CONDITIONS OF

SUBSECTION (A) OF THIS SECTION ARE FULFILLED.