Maryland § 5-115
Full text of Maryland Maryland Code § 5-115, with citation guidance and answers to common questions.
§ 5-115.
(a) (1) A proceeding under § 5-114(c) or (d) of this subtitle to determine the fair value of stock shall be filed in the circuit court for the county where the corporation’s principal office or registered office is located.
(2) The corporation shall make the disqualified stockholder a party to the proceeding as in an action against the stockholder’s stock.
(3) The jurisdiction of the court in which the proceeding is filed is plenary and exclusive.
(b) (1) The court may appoint one or more persons as appraisers to receive evidence and make recommendations on the question of fair value.
(2) The appraisers under paragraph (1) of this subsection have the powers described in the order appointing them.
(c) The disqualified stockholder is entitled to judgment for the fair value of his stock determined by the court as of the date of death, disqualification, or transfer, together with interest from that date at a rate found by the court to be fair and equitable.
(d) The court may order the judgment to be paid in installments.
Frequently Asked Questions About Maryland § 5-115
What does Maryland Code § 5-115 cover?
Section 5-115 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 § 5-115?
A common citation format is "Maryland Code § 5-115" (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 § 5-115 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.