Section 5-116 - Assessment of costs and fees in appraisal proceeding. - Maryland Statutes

§ 5-116. Assessment of costs and fees in appraisal proceeding.
 

(a)  Costs generally.-  

(1) In an appraisal proceeding commenced under § 5-115 of this subtitle, the court shall determine all costs of the proceeding, including the reasonable compensation and expenses of appraisers appointed by the court, and shall assess the costs against the professional corporation. 

(2) The court may assess costs against the disqualified stockholder, in an amount the court finds equitable, if the court finds that the stockholder acted arbitrarily or in bad faith in refusing to accept the corporation's offer. 

(b)  Counsel and expert fees.- The court may assess the fees and expenses of counsel and experts for the disqualified stockholder against the corporation and in favor of the disqualified stockholder if the court finds that the fair value of the stock substantially exceeded the amount offered by the corporation or that the corporation did not make an offer. 
 

[1993, ch. 413, § 2.]