Md. Code Ann., Corps. & Ass'ns § 4A-1102
Conversion approval required
Effective Oct 1, 2013Added by Acts 2013, c. 527, § 2, eff. Oct. 1, 2013; Acts 2013, c. 528, § 2, eff. Oct. 1, 2013.State of Maryland
- (a) Unless otherwise agreed, a limited liability company shall approve the conversion of the limited liability company to an other entity by the vote required under § 4A-403(d)(1) of this title.
- (b) An other entity seeking to convert to a limited liability company shall approve the conversion of the other entity to a limited liability company in the manner and by the vote required by its governing document and the laws of the place where it is incorporated or organized.
(c)
- (1) A member of a limited liability company objecting to a conversion of the limited liability company has the same rights with respect to the member's interest in the limited liability company as a stockholder of a Maryland corporation who objects has with respect to the stockholder's stock under Title 3, Subtitle 2 of this article.
- (2) The procedures under Title 3, Subtitle 2 of this article shall be applicable to the extent practicable.
Added by Acts 2013, c. 527, § 2, eff. Oct. 1, 2013; Acts 2013, c. 528, § 2, eff. Oct. 1, 2013.