Md. Code Ann., Corps. & Ass'ns § 2-405.3
Investment company corporations; interested and disinterested persons
Effective Jun 1, 2001Added by Acts 1998, c. 397, § 2, eff. Oct. 1, 1998. Amended by Acts 2000, c. 1, § 1, eff. March 24, 2000; Acts 2001, c. 31, § 1, eff. June 1, 2001.State of Maryland
- (a) This section applies to a corporation that is an investment company, as defined by the Investment Company Act of 1940.1
- (b) A director of a corporation who with respect to the corporation is not an interested person, as defined by the Investment Company Act of 1940, shall be deemed to be independent and disinterested when making any determination or taking any action as a director.
Added by Acts 1998, c. 397, § 2, eff. Oct. 1, 1998. Amended by Acts 2000, c. 1, § 1, eff. March 24, 2000; Acts 2001, c. 31, § 1, eff. June 1, 2001.
Aug. 22, 1940, ch. 686, Title I, 54 Stat. 789, codified at 15 U.S.C.A. § 80a-1 et seq.