§ 4-502

Md. Code, Corporations and Associations § 4-502, under Article — Corporations and Associations.

Md. Code, Corporations and Associations § 4-502

A close corporation may not have outstanding any:

(1) Securities which are convertible into its stock;

(2) Voting securities other than stock; or

(3) Options, warrants, or other rights to subscribe for or purchase any of its stock, unless they are nontransferable.