HARRY HUGHES, Governor                                 955

(B) IF THE ISSUANCE OF CAPITAL STOCK IS RELATED TO A
PROPOSED LIQUIDATION, CORPORATE REORGANIZATION, OR SPINOFF,
A PROFESSIONAL CORPORATION MAY ISSUE CAPITAL STOCK TO A
PROFESSIONAL CORPORATION WHOSE STOCKHOLDERS ARE LICENSED TO
PERFORM THE SAME PROFESSIONAL SERVICE AS THAT FOR WHICH THE
CORPORATION IS ORGANIZED. PROFESSIONAL CORPORATIONS' STOCK
MAY ONLY BE HELD UNDER THIS SUBSECTION FOR A PERIOD OF TIME
NECESSARY TO ACCOMPLISH THE CORPORATE LIQUIDATION,
REORGANIZATION, OR SPINOFF, BUT IN NO EVENT LONGER THAN 90
DAYS.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1979.

Approved May 14, 1979.

CHAPTER 293

(Senate Bill 943)

AN ACT concerning

Unemployment Insurance - Quitting Work

FOR the purpose of denying a person who voluntarily stops
working unemployment insurance benefits for a certain
period; and clarifying the interpretation of "good
cause"; changing "reemployed" to "employed"; allowing
the Executive Director of the Employment Security
Administration to consider mitigating the circumstances
in determining the length of the period of denial of
unemployment insurance benefits; and clarifying
language.

BY repealing and reenacting, with amendments,

Article 95A - Unemployment Insurance Law

Section 6(a)

Annotated Code of Maryland

(1969 Replacement Volume and 1978 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 95A - Unemployment Insurance Law

6.

An individual shall be disqualified for benefits: