Section 12-1003 – Articles of Conversion
(a) In this section, “facts ascertainable outside the articles of conversion” includes: (1) An action or determination by any person, including: (i) The statutory trust or other entity, as applicable; (ii) The trustees, directors, partners, members, officers, or other agents of the statutory trust or other entity; and (iii) Any other person affiliated with the statutory trust or other entity; […]
Section 12-1004 – Effects of Conversion
(a) A conversion has the effects provided in this section. (b) (1) This subsection applies on the completion of the conversion of a statutory trust to an other entity. (2) The statutory trust shall cease to exist as a statutory trust and shall continue to exist as the other entity into which the statutory trust has converted, and the […]
Section 12-1005 – Exchange or Conversion of Interests and Stock
(a) In a conversion of an other entity to a statutory trust, the stock, membership interests, partnership interests, beneficial interests, or other ownership interests of the other entity may be exchanged for or converted into any one or more of the following: (1) Beneficial interests of the statutory trust or stock, evidence of indebtedness, membership interests, partnership […]
Section 12-1006 – Completion of Conversion
(a) The conversion of an other entity to a statutory trust shall be completed on the later of: (1) The formation of the statutory trust in accordance with this title; or (2) The effectiveness of articles of conversion filed for record with the Department. (b) The conversion of a statutory trust to an other entity shall be completed on […]
Section 12-903 – Name
A foreign statutory trust may register with the Department under any name, whether or not it is the name under which it is registered in its jurisdiction of formation, as provided under Title 1, Subtitle 5 of this article.
Section 12-1007 – Abandonment of Proposed Conversion
(a) Except as provided in the governing instrument, unless the articles of conversion provide otherwise, the proposed conversion of a statutory trust to an other entity may be abandoned before the effective date of the articles of conversion by majority vote of the trustees of the statutory trust. (b) Unless the articles of conversion provide otherwise, the […]
Section 12-904 – Changes and Amendments
If any statement in the application for registration of a foreign statutory trust is false when made or any arrangements or other facts described have changed making the application inaccurate in any respect, a foreign statutory trust shall promptly file with the Department a certificate, executed by an authorized person, correcting the statement.
Section 12-905 – Cancellation of Registration
(a) A foreign statutory trust may cancel its registration by filing with the Department a certificate of cancellation executed by an authorized person. (b) The filing of a certificate of cancellation does not terminate the authority of the Department to accept service of process on the foreign statutory trust with respect to causes of action arising out […]
Section 12-906 – Doing Business Without Registration
(a) If a foreign statutory trust is doing or has done any intrastate, interstate, or foreign business in this State without complying with the requirements of this subtitle, the foreign statutory trust and any person claiming under it may not maintain suit in any court in this State, unless the statutory trust shows to the satisfaction […]
Section 12-907 – Action by Attorney General
The Attorney General may bring an action to restrain a foreign statutory trust from doing business in this State in violation of this subtitle.