§ 3-205. Corporate status; perpetual existence

Latest version.

(a) Corporate status. -- When articles of incorporation are filed for record in accordance with § 3-204 of this subtitle, the commercial bank becomes a corporation.

(b) Perpetual existence. -- Notwithstanding any charter provision or provision of law, each commercial bank has the right to perpetual existence until forfeiture.

HISTORY: CA § 6-115, 6-136, 6-151; 1980, ch. 33, § 2.

                    
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