Md. Code, Corporations and Associations § 5-111

Md. Code, Corporations and Associations § 5-111
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) A stockholder of a professional corporation may transfer or pledge stock, fractional stock, and rights or options to purchase stock of the corporation only to a qualified person. (b) A transfer of stock made in violation of subsection (a) of this section, except a transfer made by operation of law or by court judgment, is void.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca&section=5-111&enactments=falseFetched: 10/16/2026

Starting a business in Maryland? Maryland LLC guide: costs and requirements