§ 4-501

Md. Code, Corporations and Associations § 4-501, under Article — Corporations and Associations.

Md. Code, Corporations and Associations § 4-501

If there is any stock of a close corporation outstanding, the corporation may not issue or sell any of its stock, including treasury stock, unless the issuance or sale is:

(1) Approved by the affirmative vote of the holders of all outstanding stock; or

(2) Permitted by a unanimous stockholders’ agreement.