Section 3-206 - Restoration of dividend and other rights. - Maryland Statutes

§ 3-206. Restoration of dividend and other rights.
 

(a)  When rights restored.- The rights of a stockholder who demands payment are restored in full, if: 

(1) The demand for payment is withdrawn; 

(2) A petition for an appraisal is not filed within the time required by this subtitle; 

(3) A court determines that the stockholder is not entitled to relief; or 

(4) The transaction objected to is abandoned or rescinded. 

(b)  Effect of restoration.- The restoration of a stockholder's rights entitles him to receive the dividends, distributions, and other rights he would have received if he had not demanded payment for his stock. However, the restoration does not prejudice any corporate proceedings taken before the restoration. 
 

[An. Code 1957, art. 23, § 73; 1975, ch. 311, § 2.]