HARRY HUGHES, Governor

1147

BY repealing and reenacting, with amendments,

Article - Corporations and Associations

Section 3-109(d)

Annotated Code of Maryland

(1975 Volume and 1979 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be repealed, amended, or enacted to read a - follows:

Article - Corporations and Associations

3-109.

(d) In addition to the requirements of subsection (a)
of this section, articles of transfer shall include:

(1)  The nature and amount of the consideration
to be paid, transferred, or issued for the assets of the
transferor OR A STATEMENT OF THE METHOD BY WHICH THE
CONSIDERATION IS TO BE DETERMINED; and

(2)  In the case of a noncorporate transferee
which is a nonresident of the State, the name and address of
a resident agent of the transferee in this State.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 6, 1980.

CHAPTER 296

(Senate Bill 238)

AN ACT concerning

Corporations - Articles of Reduction and Articles of
Amendment and Reduction

FOR the purpose of eliminating the requirement of filing
articles of reduction or articles of amendment and
reduction with the State Department of Assessments and
Taxation.

BY repealing and reenacting, with amendments,

Article - Corporations and Associations
Section 1-203(1), 1-301(a), and 2-313(a)
Annotated Code of Maryland