Maryland § 3-501
Full text of Maryland Maryland Code § 3-501, with citation guidance and answers to common questions.
§ 3-501.
(a) If the period of existence of a corporation has expired under the terms of its charter and if the corporation has been in continuous operation since before the date of expiration, the corporation, at any time within three years after the date of expiration, may reinstate its charter and extend its existence for an additional period or in perpetuity, by filing articles of extension as provided in this section.
(b) The board of directors of a corporation proposing to reinstate its charter and extend its existence shall:
(1) Adopt a resolution which declares that the reinstatement and extension are advisable; and
(2) Direct that the proposed reinstatement and extension be submitted for consideration at either an annual or a special meeting of the stockholders.
(c) Notice which states that a purpose of the meeting will be to act on the proposed reinstatement and extension shall be given by the corporation in the manner required by Title 2 of this article to:
(1) Each stockholder entitled to vote on the proposed reinstatement and extension; and
(2) Each stockholder not entitled to vote if the contract rights of his stock, as expressly set forth in the charter, would be altered by the reinstatement and extension.
(d) The proposed reinstatement and extension shall be approved by the stockholders of the corporation by the affirmative vote of two thirds of all the votes entitled to be cast on the matter.
(e) Articles of extension shall be filed for record with the Department.
Frequently Asked Questions About Maryland § 3-501
What does Maryland Code § 3-501 cover?
Section 3-501 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 § 3-501?
A common citation format is "Maryland Code § 3-501" (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 § 3-501 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.