Ch. 280

LAWS OF MARYLAND

alcoholic beverages for sale [or] AND use on a federal
reservation in the State where the person is assigned;

5-303.

(a) For a container of distilled spirits that is one-half
pint or larger, the alcoholic beverage tax shall be paid by the
purchase of tax stamps from the Comptroller OR BY AN ALTERNATE
METHOD APPROVED BY THE COMPTROLLER, in the manner and at the time
that the Comptroller requires by regulation.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect January 1, 1989.

Approved May 17, 1988.

CHAPTER 280

(Senate Bill 243)

AN ACT concerning

Corporations and Associations - Distributions to Stockholders

FOR the purpose of defining the term "distribution" to include
all transfers of money, property, or indebtedness by a
corporation to or for the benefit of stockholders of the
corporation; providing certain exceptions; repealing a
certain definition of the term "insolvent"; authorizing a
corporation to effect certain stock splits and dividends;
clarifying language; regulating a corporation's acquisition
of the corporation's own shares and other distributions of a
corporation; prescribing and altering the liability of
directors and stockholders for certain unlawful
distributions; providing for certain contributions to a
director held liable for an unlawful distribution; altering
certain provisions relating to distributions in liquidation;
and generally relating to distributions to stockholders and
liability for those distributions.

BY repealing and reenacting, with amendments,

Article - Corporations and Associations

Section 2-309 and 4-303(7)

Annotated Code of Maryland

(1985 Replacement Volume and 1987 Supplement)

BY repealing

- 2724 -