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Section 4-601 – Consolidation, Merger, Share Exchange, or Transfer of Assets

    A consolidation, merger, share exchange, or transfer of assets of a close corporation shall be made in accordance with the provisions of Title 3 of this article. However, approval of a proposed consolidation or merger, a transfer of its assets, or an acquisition of its stock in a share exchange requires the affirmative vote of […]

Section 4-602 – Involuntary Dissolution

    (a)    Any stockholder of a close corporation may petition a court of equity for dissolution of the corporation on the grounds set forth in § 3-413 of this article or on the ground that there is such internal dissension among the stockholders of the corporation that the business and affairs of the corporation can no longer […]

Section 4-603 – Avoidance of Dissolution by Purchase of Petitioner’s Stock

    (a)    Any one or more stockholders who desire to continue the business of a close corporation may avoid the dissolution of the corporation or the appointment of a receiver by electing to purchase the stock owned by the petitioner at a price equal to its fair value.     (b)    (1)    If a stockholder who makes the election is unable […]