WILLIAM DONALD SCHAEFER, Governor

Ch. 52

whose charter has been amended by a vote of certain
stockholders prior to a person becoming an interested
stockholder and do not apply to transactions with certain
persons who become interested stockholders inadvertently;
providing for the application of this Act; making provisions
of this Act severable; making this Act an emergency measure;
and generally relating to special voting requirements of
certain corporations under certain circumstances.

BY repealing and reenacting, with amendments,

Article - Corporations and Associations

Section 3-601, 3-602, and 3-603

Annotated Code of Maryland

(1985 Replacement Volume and 1988 Supplement)

BY adding to

Article - Corporations and Associations

Section 3-604

Annotated Code of Maryland

(1985 Replacement Volume and 1988 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Corporations and Associations

3-601.

(a)   In this subtitle, the following words have the meanings
indicated.

(b)   "Affiliate", including the term "affiliated person",
means a person that directly, or indirectly through one or more
intermediaries, controls, or is controlled by, or is under common
control with, a specified person.

(c)   "Associate", when used to indicate a relationship with
any person, means:

(1)  Any corporation or organization (other than the
corporation or a subsidiary of the corporation) of which such
person is an officer, director, or partner or is, directly or
indirectly, the beneficial owner of 10 percent or more of any
class of equity securities;

(2)  Any trust or other estate in which such person
has a substantial beneficial interest or as to which such person
serves as trustee or in a similar fiduciary capacity; and

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