Maryland § 2-201
Full text of Maryland Maryland Code § 2-201, with citation guidance and answers to common questions.
§ 2-201.
(a) Subject to the provisions of this subtitle, a corporation from time to time may issue:
(1) Stock of any class authorized by its charter; and
(2) Securities convertible into stock of any class authorized by its charter.
(b) The authorization of stock convertible into other stock or securities convertible into stock constitutes an authorization of the stock into which the stock or securities are convertible, without further specific authorization in the charter.
(c) (1) The board of directors of a corporation may, in its sole discretion:
(i) Set the terms and conditions of rights, options, or warrants under a stockholder rights plan; and
(ii) Issue rights, options, or warrants under a stockholder rights plan to designated persons or classes of persons.
(2) The rights, options, or warrants under paragraph (1) of this subsection may, in the sole discretion of the board of directors, include any limitation, restriction, or condition that:
(i) Precludes, limits, invalidates, or voids the exercise, transfer, or receipt of the rights, options, or warrants by designated persons or classes of persons in specified circumstances; or
(ii) Limits for a period not to exceed 180 days the power of a future director, as defined in the stockholder rights plan, to vote for the redemption, modification, or termination of the rights, options, or warrants.
Frequently Asked Questions About Maryland § 2-201
What does Maryland Code § 2-201 cover?
Section 2-201 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 § 2-201?
A common citation format is "Maryland Code § 2-201" (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 § 2-201 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.