1302

LAWS OF MARYLAND

Ch. 255

HAS AUTHORITY TO ISSUE;

(II) THE NUMBER OF SHARES OF BENEFICIAL
INTEREST OF EACH CLASS;

[(3)] (4) If the charter OR DECLARATION OF
TRUST of the successor is amended in a manner which changes
any of the information required by [paragraph! PARAGRAPHS
(2) OR (3) of this subsection, that information as it was
both immediately before and as changed by the merger; and

[(4)] (5) The manner and basis of converting or
exchanging issued stock of the merging corporations OR
SHARES OF BENEFICIAL INTEREST OF THE MERGING BUSINESS TRUSTS
into different stock OF A CORPORATION, SHARES OF BENEFICIAL
INTEREST OF A BUSINESS TRUST, or other consideration, and
the treatment of any issued stock of the merging
corporations OR SHARES OF BENEFICIAL INTEREST OF THE MERGING
BUSINESS TRUSTS not to be converted or exchanged.

3-111.

(b) In addition to any other provision of law with
respect to recording, the Department shall send one of the
certificates to the clerk of the court of each county in
this State, except a county where the articles will be
recorded, where:

(1)    The principal office of a [consolidating,]
merging[,] CORPORATION OR BUSINESS TRUST, A CONSOLIDATING or
transferor corporation, or a corporation the stock of which
is being acquired in a share exchange is located; and

(2)    The articles show that a merging
corporation OR BUSINESS TRUST other than the successor, a
consolidating corporation, or a transferor corporation owns
an interest in land.

3-112.

(a)    In order to keep the land assessment records
current in each county, the Department shall require a
corporation OR BUSINESS TRUST to submit with the articles a
property certificate for each county where a merging
corporation OR BUSINESS TRUST other than the successor, a
consolidating corporation, or a transferor corporation owns
an interest in land.

(b)    A property certificate is not required with
respect to any property in which the only interest owned by
the MERGING CORPORATION OR BUSINESS TRUST OR BY THE
consolidating!", merging,] or transferor corporation is a
security interest.

3-113.

(b) (1) If the successor in a consolidation or
merger is a foreign corporation OR A FOREIGN BUSINESS TRUST,