Ch. 624                                     1993 LAWS OF MARYLAND

(2) Any investment earnings of the Fund shall be paid into the Fund.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1993.

Approved May 27, 1993.

CHAPTER 624
(House Bill 1588)

AN ACT concerning

Corporations - Consideration for Issuance of Stock, Convertible Securities, Warrants, or

Options

FOR the purpose of specifically authorizing a purchaser's obligation for certain future
payment and future services to be valid consideration for the issuance of stock,
convertible securities, warrants, or options; clarifying language relating to the
nature of receipt of consideration for the issuance of stock, convertible securities,
warrants, or options; and generally relating to authorizing a purchaser's obligation
. for certain future payments and future services to be consideration for the issuance
of stock, convertible securities, warrants, or options.                 

BY repealing and reenacting, with amendments,                                       

Article - Corporations and Associations                                         

Section 2-206 and 2-210

Annotated Code of Maryland

(1993 Replacement Volume)                                                               

BY repealing                                                                            

Article - Corporations and Associations                                                            

Section 2-207                                                                           

Annotated Code of Maryland

(1993 Replacement Volume)                                                                

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

Article - Corporations and Associations

2-206.

(a) The consideration_:for the issuance of stock, convertible securities, warrants, or
options may [be paid] CONSIST in whole or in part [in] OF:             

(1)     Money;

(2)     Tangible or intangible property; [or]

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