Section 3-703 - Acquiring person statement. - Maryland Statutes

§ 3-703. Acquiring person statement.
 

Any person who proposes to make or who has made a control share acquisition may deliver an acquiring person statement to the corporation at the corporation's principal office. The acquiring person statement shall set forth all of the following: 

(1) The identity of the acquiring person and each other member of any group of which the person is a part for purposes of determining control shares; 

(2) A statement that the acquiring person statement is given under this subtitle; 

(3) The number of shares of the corporation owned (directly or indirectly) by the acquiring person and each other member of any group; 

(4) The applicable range of voting power as set forth in § 3-701(d) of this subtitle; and 

(5) If the control share acquisition has not occurred: 

(i) A description in reasonable detail of the terms of the proposed control share acquisition; and 

(ii) Representations of the acquiring person, together with a statement in reasonable detail of the facts on which they are based, that: 

1. The proposed control share acquisition, if consummated, will not be contrary to law; and 

2. The acquiring person has the financial capacity, through financing to be provided by the acquiring person and any additional specified sources of financing required under § 3-705 of this subtitle, to make the proposed control share acquisition. 
 

[1989, ch. 51.]