1298

LAWS OF MARYLAND

Ch. 255

transaction were approved or the president, vice—president,
secretary, or assistant secretary of the corporation; [and]

(ii) With respect to any foreign
corporation party to articles of consolidation, merger, or
share exchange, by the president, vice—president, secretary,
or assistant secretary of the corporation[. ]; AND

(III) WITH RESPECT TO ANY OTHER MARYLAND OR
FOREIGN ENTITY PARTY TO THE ARTICLES, BY THE PRESIDENT,
VICE PRESIDENT, SECRETARY, ASSISTANT SECRETARY, MANAGING
TRUSTEE, OR PERSONS ACTING IN A SIMILAR POSITION FOR THE
ENTITY.

3-101.

(D)          BUSINESS TRUST.

"BUSINESS TRUST" MEANS AN UNINCORPORATED TRUST OR
ASSOCIATION, INCLUDING A COMMON-LAW TRUST, MASSACHUSETTS
TRUST, OR MARYLAND REAL ESTATE INVESTMENT TRUST AS DEFINED
IN SECTION 8-101 (B) OF THIS ARTICLE, WHICH IS ENGAGED IN
BUSINESS AND IN WHICH PROPERTY IS ACQUIRED, HELD, MANAGED,
ADMINISTERED, CONTROLLED, INVESTED, OR DISPOSED OF BY
TRUSTEES FOR THE BENEFIT AND PROFIT OF ANY PERSON WHO MAY
BECOME A HOLDER OF A TRANSFERABLE UNIT OF BENEFICIAL
INTEREST IN THE TRUST.

(E)    FOREIGN BUSINESS TRUST.

"FOREIGN BUSINESS TRUST"      MEANS A BUSINESS TRUST

ORGANIZED UNDER THE LAWS OF THE   UNITED STATES, ANOTHER STATE

OF THE UNITED STATES, OR A     TERRITORY, POSSESSION, OR
DISTRICT OF THE UNITED STATES.

3-102.

(a) A Maryland corporation having capital stock may:

(1)    Consolidate with one or more other Maryland
or foreign corporations having capital stock to form a new
consolidated corporation;

(2)    Merge into another Maryland or foreign
corporation having capital stock, or have one or more such
corporations merged into it;

(3)    MERGE INTO A MARYLAND OR FOREIGN BUSINESS
TRUST HAVING TRANSFERABLE UNITS OF BENEFICIAL INTEREST, OR
HAVE ONE OF MORE SUCH BUSINESS TRUSTS MERGE INTO IT;

[(3)] (4) Participate in a share exchange
either:

(i) As the successor; or

(ii) As the corporation the stock of which
is to be acquired; or