Maryland § 3-108
Full text of Maryland Maryland Code § 3-108, with citation guidance and answers to common questions.
§ 3-108.
(a) A proposed consolidation, merger, or share exchange may be abandoned before the effective date of the articles:
(1) If the articles so provide, by majority vote of the entire board of directors of any one corporation party to the articles, the entire board of trustees of any one business trust party to the articles, or the governing body of any other entity party to the articles; or
(2) Unless the articles provide otherwise, by majority vote of the entire board of directors of each Maryland corporation party to the articles, the entire board of trustees of each Maryland business trust party to the articles, and the governing body of each other Maryland entity party to the articles.
(b) If the articles have been filed with the Department, notice of the abandonment shall be given promptly to the Department by:
(1) If abandoned pursuant to subsection (a)(1) of this section, any one party to the articles; or
(2) If abandoned pursuant to subsection (a)(2) of this section, each party to the articles.
(c) (1) If the proposed consolidation, merger, or share exchange is abandoned as provided in this section, no legal liability arises under the articles.
(2) An abandonment does not prejudice the rights of any person under any other contract made by a corporation party to the proposed articles in connection with the proposed consolidation, merger, or share exchange.
Frequently Asked Questions About Maryland § 3-108
What does Maryland Code § 3-108 cover?
Section 3-108 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 3-108?
A common citation format is "Maryland Code § 3-108" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 3-108 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.