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Ch. 642
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PARRIS N. GLENDENING, Governor
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3-702.
(c) This subtitle does not apply to:
(1) A close corporation as defined in § 4-101(b) of this article;
(2) A corporation having fewer than 100 beneficial owners of its stock;
[or]
(3) [An investment company registered] A CORPORATION REGISTERED
under the Investment Company Act of 1940 AS AN OPEN END INVESTMENT
COMPANY; OR
(4) A CORPORATION REGISTERED UNDER THE INVESTMENT COMPANY
ACT OF 1940 AS A CLOSED END INVESTMENT COMPANY UNLESS ITS BOARD OF
DIRECTORS ADOPTS A RESOLUTION TO BE SUBJECT TO THIS SUBTITLE ON OR AFTER
JUNE 1, 2000, PROVIDED THAT THE RESOLUTION SHALL NOT BE EFFECTIVE WITH
RESPECT TO ANY PERSON WHO HAS BECOME A HOLDER OF CONTROL SHARES
BEFORE THE TIME THAT THE RESOLUTION IS ADOPTED.
3-710.
THIS SUBTITLE MAY BE CITED AS THE MARYLAND CONTROL SHARE
ACQUISITION ACT.
3-803.
(a) (1) [Before] EXCEPT AS PROVIDED IN SUBSECTION (F) OF THIS SECTION,
NOTWITHSTANDING ANY PROVISION IN THE CHARTER OR THE BYLAWS OF A
CORPORATION, BEFORE the first annual meeting of stockholders after a corporation
elects to be subject to this subtitle, the board of directors shall designate by
resolution, from among its members, directors to serve as class I directors, class II
directors, and class III directors.
3-804.
(a) Notwithstanding any other lesser proportion of votes required by a
provision in the charter or the bylaws, but subject to § 2-406(b)(3) OR § 8-205(B)(3) of
this article the stockholders of a corporation may remove any director by the
affirmative vote of at least two-thirds of all the votes entitled to be cast by the
stockholders generally in the election of directors.
8-202.
(E) (1) IN THIS SUBSECTION, "FACTS ASCERTAINABLE OUTSIDE THE
BYLAWS" INCLUDE;
(I) AN ACTION OR DETERMINATION BY ANY PERSON, INCLUDING
THE REAL ESTATE INVESTMENT TRUST, ITS BOARD OF TRUSTEES, AN OFFICER OR
AGENT OF THE REAL ESTATE INVESTMENT TRUST, AND ANY OTHER PERSON
AFFILIATED WITH THE REAL ESTATE INVESTMENT TRUST;
(II) ANY AGREEMENT OR OTHER DOCUMENT; OR
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- 3319 -
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