Maryland § 2-301
Full text of Maryland Maryland Code § 2-301, with citation guidance and answers to common questions.
§ 2-301.
(a) (1) In this subtitle, “distribution” means:
(i) A direct or indirect transfer of money or other property of the corporation in respect of any of its shares; or
(ii) An incurrence or forgiveness of indebtedness by a corporation to or for the benefit of the corporation’s stockholders in respect of any of its shares.
(2) “Distribution” does not include a stock dividend or stock split authorized in accordance with § 2-309(c) of this subtitle.
(b) A distribution may be in the form of:
(1) A declaration or payment of a dividend;
(2) A purchase, redemption, whether or not at the option of the corporation or the stockholders, or other acquisition of shares; or
(3) An issuance of evidence of indebtedness.
Frequently Asked Questions About Maryland § 2-301
What does Maryland Code § 2-301 cover?
Section 2-301 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 § 2-301?
A common citation format is "Maryland Code § 2-301" (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 § 2-301 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.