Section 2-612 - Abandonment of proposed amendment. - Maryland Statutes

§ 2-612. Abandonment of proposed amendment.
 

(a)  General rule.- A proposed amendment to the charter of a corporation may be abandoned before the effective date of the articles by majority vote of the entire board of directors of the corporation. 

(b)  Notice to Department.- If the articles have been filed with the Department, notice of abandonment shall be given promptly to the Department. 

(c)  Effect of abandonment.- If the proposed amendment to the charter is abandoned as provided in this section, the articles and the amendment have no effect. 
 

[1976, ch. 567, § 4.]