Section 3-301 – Reorganization by Order of Court

    (a)    If the final order of a court makes a plan of reorganization binding on the stockholders of a corporation, the board of directors, trustee, or receiver, as the case may be, may take any action necessary to carry out the plan without any other corporate approval.     (b)    If a charter document is required to be filed […]

Section 3-302 – Sale of Property or Franchise Under Court Order

    (a)    If the property and franchises of a Maryland corporation are sold under a court order or under a mortgage or deed of trust, a Maryland corporation organized for the purpose of continuing the operations of the original corporation may acquire the property or franchises.     (b)    With respect to this property, the purchasing corporation has the same […]