1. (a) A Maryland corporation having capital stock may:

   1. (1) Consolidate with one or more other Maryland or foreign corporations having capital stock to form a new consolidated corporation;
   2. (2) Merge into another Maryland or foreign corporation having capital stock, or have one or more such corporations merged into it;
   3. (3) Merge into a domestic or foreign business trust having transferable units of beneficial interest, or have one or more such business trusts merge into it;
   4. (4) Merge into a domestic or foreign limited partnership, or have one or more domestic or foreign limited partnerships merged into it;
   5. (5) Merge into a domestic or foreign limited liability company, or have one or more domestic or foreign limited liability companies merged into it;
   6. (6) Merge into a domestic or foreign partnership, or have one or more domestic or foreign partnerships merged into it;

   7. (7) Participate in a share exchange either:

      1. (i) As the successor; or
      2. (ii) As the corporation the stock of which is to be acquired; or
   8. (8) Transfer its assets.

2. (b) The provisions of this subtitle do not repeal, modify, or affect in any way a restriction or limitation:

   1. (1) Imposed on a corporation by State or other applicable law or by a charter provision which applies to a consolidation, merger share exchange, or transfer of assets; or
   2. (2) Contained in a franchise granted by the State or any of its political subdivisions which applies to a transfer or assignment of the franchise.

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1976, c. 567, § 2; Acts 1978, c. 255; Acts 1988, c. 550; Acts 1992, c. 536; Acts 1997, c. 654, § 2, eff. July 1, 1998; Acts 2010, c. 611, § 2, eff. June 1, 2010.

Formerly Art. 23, § 65.