§ 5-6C-04. Termination of status as benefit corporation

Latest version.

(a) In general. -- A corporation may terminate status as a benefit corporation and cease to be subject to this subtitle by amending the charter of the corporation to delete the statement that the corporation is a benefit corporation.

(b) Approval of amendment. -- An amendment terminating a corporation's status as a benefit corporation shall be approved by the stockholders of the corporation in accordance with Title 2, Subtitle 6 of this article.

HISTORY: 2010, chs. 97, 98.

                    
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