MARVIN MANDEL, Governor                                1517

5-117.1.

(A)    BY A CHARTER AMENDMENT ADOPTED IN ACCORDANCE
WITH TITLE 2 OF THIS ARTICLE, THE STOCKHOLDERS OF A
PROFESSIONAL CORPORATION MAY ELECT TO CHANGE THE STATUS
OF THE CORPORATION FROM A PROFESSIONAL CORPORATION TO A
CORPORATION UNDER THE MARYLAND GENERAL CORPORATION LAW.
THE CHARTER AMENDMENT SHALL INCLUDE ALL PROVISIONS
APPROPRIATE AND NECESSARY TO EFFECT THE CHANGE, INCLUDING
THE ELIMINATION FROM THE CORPORATE NAME OF THE WORDS OR
ABBREVIATION SPECIFIED IN § 5-109 OF THIS SUBTITLE.

(B)    WHEN A CHARTER AMENDMENT AUTHORIZED BY
SUBSECTION (A) OF THIS SECTION BECOMES EFFECTIVE, THE
CORPORATION MAY NOT CONDUCT ANY BUSINESS WHICH IT WOULD
ONLY BE PERMITTED TO CONDUCT UNDER THIS SUBTITLE.

SECTION__5. AND BE IT FURTHER ENACTED, That Section

15(j) of Article 95A — Unemployment Insurance Law, of the
Annotated Code of Maryland (1969 Replacement Volume and
1975 Supplement) be and it is hereby repealed and
re-enacted, with amendments, to read as follows:

Article 95A — Unemployment Insurance Law

15.

(1) The provisions of §§ 3-407 [and], 3-417, AND
3-520 of the Corporations and Associations Article of the
Code shall apply to the payment of unemployment insurance
contributions and interest due and owing by any
corporation.

SECTION [[5]] 6.      AND BE IT FURTHER ENACTED, That

Article 23 of the      Annotated Code of Maryland (1973

Replacement Volume and 1975 Supplement) title

"Corporations" be and    it is hereby renamed "Miscellaneous
companies. "

SECTION [[6]] 7. AND BE IT FURTHER ENACTED, That
this Act shall take effect July 1, 1976.

Approved May 17, 1976.

CHAPTER 568
(Senate Bill 269)
AN ACT concerning