Md. Code, Corporations and Associations § 5-404

Md. Code, Corporations and Associations § 5-404
in effect
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The provisions of §§ 5-402 and 5-403 of this subtitle do not apply to any private foundation to the extent that a court of competent jurisdiction, under a judicial proceeding begun by the private foundation before January 1, 1972, determines that: (1) The application of these sections is contrary to the terms of the charter or other instrument governing the private foundation or the administration of charitable funds held by it; and (2) The charter or other governing instrument may not properly be changed to conform to these sections.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca&section=5-404&enactments=falseFetched: 10/16/2026

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