Corporations and Associations - Ratification of Defective Corporate Acts
Sponsor: Delegate BrooksCommittee: Economic MattersSubject: Corporations and AssociationsStatus: Approved by the Governor - Chapter 289 (as of Nov 15, 2022)
What this bill does
Official synopsis
Establishing a process by which a defective corporate act may be ratified by a board of directors of a corporation; requiring a corporation ratifying a defective corporate act that would have required a filing with the State Department of Assessments and Taxation to file articles of validation with the Department; authorizing an adversely affected person or entity to file an action contesting a ratification under the Act; and applying the Act to real estate investment trusts.
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Testimony (4)
MGA witness listFAV 1FavorableFWA 3Favorable with amendments
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Delegate Brooks, Delegate Brookslegislator | Individual | Oral |
| FWA | Wilson, Scott | Business Law Section of the Maryland State Bar Association | Oral + Written (PDF) |
| FWA | Carlson, William | MSBA Committee on Corporation Law | Oral |
| FWA | Brooks, Benjamin | Individual | Written (PDF) |